GDX Elliott Wave Technical Analysis – 21st August, 2015

BEAR – MONTHLY ELLIOTT WAVE COUNT

GDX monthly bear 2014
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BEAR – DAILY ELLIOTT WAVE COUNT

GDX daily 2014
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BULL – MONTHLY ELLIOTT WAVE COUNT

GDX monthly bull 2014
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There are at this stage three likely structures for primary B for the bull wave count .

Please note: these three ideas work in the same way for Gold. There, these three ideas are three structures for cycle wave b. These will be published at the weekly chart level for Gold next analysis and each day thereafter. One by one they may be eliminated until only one is left.

BULL – DAILY ELLIOTT WAVE COUNT – EXPANDED FLAT

GDX daily expanded flat 2014
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BULL – DAILY ELLIOTT WAVE COUNT – TRIANGLE

GDX daily triangle 2014
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BULL – DAILY ELLIOTT WAVE COUNT – COMBINATION

GDX daily combination 2014
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A double zigzag should be eliminated for primary B because the X wave would be far too deep. For a combination intermediate (Y) is most likely a flat, but it may also be a triangle.