GDX is setting up for a strong bullish rally off the January lows. IF the low is in - increasingly likely - then the recent bullish rally is tiny in comparison to longer-term potential. Targets as shown are notional until wave ii is complete, followed by confirmation with taking out the top of wave i.
The application of Elliot Wave theory with Fibonacci extensions used here is not a timing system - placement of future targets are NOT predictions of timing. This rally, if truly bullish, could accelerate quickly with shallow retraces.
The application of Elliot Wave theory with Fibonacci extensions used here is not a timing system - placement of future targets are NOT predictions of timing. This rally, if truly bullish, could accelerate quickly with shallow retraces.
