Gold Miners Junior (GDXJ) Impulsive Rally in Progress

The VanEck Junior Gold Miners ETF (GDXJ) is an exchange-traded fund that aims to replicate the performance of the MVIS Global Junior Gold Miners Index. This index tracks the overall performance of small-capitalization companies primarily involved in mining for gold and silver.

GDXJ Monthly Elliott Wave View

Gold Miners Junior ETF (GDXJ) ended wave ((II)) in grand super cycle degree at 16.14. From there, The ETF is rallying in the form of an impulse. Wave (I) rally ended at 52.5 and dips in wave (II) pullback ended at 19.52. The ETF is rallying higher in wave (III) as a nest. Up from wave (II), wave I ended at 65.95. Wave II pullback ended at 25.80. The ETF should continue to extend higher as far as it stays above 16.14.

GDXJ Daily Elliott Wave View

Daily Elliott Wave Chart of GDXJ shows that wave III rally is in progress as an impulse. Up from wave II, wave ((1)) ended at 41.16 and pullback in wave ((2)) ended at 30.46 with internal subdivision as an expanded flat. The ETF then rallied again in wave ((3)) as a nest. Up from wave ((2)), wave (1) ended at 49.13 and pullback in wave (2) ended at 40.26. The ETF has extended higher again in wave (3). Up from wave (2), wave 1 ended at 48.47 and wave 2 pullback ended at 42.51. Expect the ETF to continue higher within wave (3) of ((3))

Source: https://elliottwave-forecast.c...