GDX Elliott Wave Technical Analysis – 15th December, 2014

One chart only this week.

Click chart to enlarge.

Main Wave Count

GDX daily 2014

9 thoughts on “GDX Elliott Wave Technical Analysis – 15th December, 2014

  1. Lara, thanks for gdx and silver charts, your time is valuable so just one chart without text or video is fine, great to help confirm or deny what gold is doing with the second opinion of gdx and silver.

  2. Hi Lara

    The target for wave 2 would be a 35% increase.
    Is that realistic given the GLD does not come close to reflecting this?

    Also, the fact that we are so close to the invalidation point, doesn’t this reduce the likely hood of this count?

    What would the ALT be? we are in 3 now?

    thanks!

    1. disqus

      As to possible 35% increase for gdx vs gold–as I track gold, silver and gdx it is common for silver to have a 2X-3X move and gdx to have a 3X-4X move as compared to gold. Over time they all usually move in the same general direction but gdx moves are typically much stronger (either up or down) than gold.

    2. Yes, its entirely realistic. When I look at those two charts side by side they both have the “right look” in terms of EW structures.

      I’m seeing another alt for GDX though which could include a slight new low for minute b before minute c moves higher.

      Also, the target may be too high. When I know where minute wave b has ended I can calculate a target for minute c, and it may be lower than 23.45

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