GDX Elliott Wave Technical Analysis – 18th November, 2014

Movement for the last eight days fits this Elliott wave count perfectly.

Click charts to enlarge.

GDX daily 2013

Ratios within minor wave 1 are: there is no Fibonacci ratio between minute waves i and iii, and minute wave v is 0.18 short of 2.618 the length of minute wave i.

Minor wave 1 lasted 83 sessions. I would expect minor wave 2 to last a few weeks. It may last a Fibonacci 13 or 21 sessions, and may end about the 0.382 or 0.618 Fibonacci ratio of minor wave 1, with the 0.618 ratio slightly favoured as this is a second wave correction.

This wave count now matches the new wave count for Gold.

One thought on “GDX Elliott Wave Technical Analysis – 18th November, 2014

Comments are closed.