AMEX:GDX   VANECK VECTORS GOLD MINERS ETF
75 5 0
Potential b-wave rally. Buying opportunity long on next decline for potential purple wave ii count. Breakout over previous high most likely points to a strong 3-rd wave although there's an outside chance of an expanded flat correction where the b-wave makes a higher high before further (and higher) consolidation.
Looks like (b) is a flat? I agree if gdx make a new high soon, we should be in a wave 3. Thanks for sharing this good count.
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Could be that wave (b) completed this morning. Get GDX under 24.25 and I'll be more confident.
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nick.holland78 PRO nick.holland78
Correction, 24.15
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Excellent assessment Nick! Which of the EW assessments do you favor? ii or C down next? Thank you for your input in this forum!
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tmedcalf, I'd prefer a lower wave 2, but price will tell the story. One could buy the wave ii box, then trail stops should price break down. At this point, a strong rally to new highs would be a very bullish sign. Could see 40s in coming months.
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