Gold Miners ETF (GDX) Short-Term Rally Still Developing, Elliott Wave Shows
Elliott Wave analysis suggests the rally in the Gold Miners ETF (GDX) from the July 17 low is incomplete, pointing to further upside before a corrective phase.
GDX
The short-term Elliott Wave count for the VanEck Gold Miners ETF (GDX) indicates that the advance from the July 17 low remains in progress as an impulsive five-wave sequence.
According to the analysis, this structure has not yet finished. That implies additional upside is likely in the near term.
Once the five-wave rally completes, a larger corrective phase is expected to unfold.
Source: FXStreet Forex News