GDX has been consolidating within a Complex Corrective Structure which is most probably terminating its last legs.
According to the Wave Count on GDX, precious metals would become a Strong BUY soon.
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XAUUSD - Bullish
XAGUSD - Bullish
According to the Wave Count on GDX, precious metals would become a Strong BUY soon.
Views:
XAUUSD - Bullish
XAGUSD - Bullish
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Upper Channel Break-Out confirmed.
GDX would retrace soon for the second wave, then expected to resume the up-trend in an aggressive manner.
GDX would retrace soon for the second wave, then expected to resume the up-trend in an aggressive manner.
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Update:
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Retracement starting, will be looking for a Zig-Zag for Bullish confirmation on metals.
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GDX retraced 78.6%, Minute II would terminate at these levels and GDX could show a Rally, the biggest in 3 years.
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Don't get fooled by all this commotion:
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Wave Count updated:
Up-Trend almost confirmed.
Upper channel will be in focus for a possible break-out.