Great article, would you like to share it?
Gold Miners Junior ETF (GDXJ) Extending Higher
@Elliottwave_Forecast：
GDXJ, or the VanEck Vectors Junior Gold Miners ETF, is an exchange-traded fund that tracks the performance of small-cap gold mining companies. It provides investors exposure to junior gold mining companies, which are typically smaller and more volatile than their larger counterparts. This ETF offers a convenient way for investors to gain diversified exposure to the junior gold mining sector without having to select individual stocks. Below we update the Elliott Wave outlook for the ETF. GDXJ Monthly Elliott Wave View GDXJ Daily Elliott Wave View Monthly chart of Gold Miners Junior ETF (GDXJ) above shows that the ETF ended wave ((II)) in grand super cycle degree at 16.14. From there, it starts a new bullish leg higher in the form of a nest. Up from wave ((II)), wave (I) ended at 52.5 and pullback in wave (II) ended at 19.52. The ETF then extends higher in wave (III). Up from wave (II), wave I ended at 65.95 and pullback in wave II ended at 25.80. While above 15.69, expect the ETF to extend higher. GDXJ Daily Elliott Wave View GDXJ Daily Elliott Wave View Daily Elliott Wave Chart of GDXJ above shows wave II pullback ended at 25.88. Rally from there is now in progress as a 5 waves diagonal. Up from wave II, wave (1) ended at 41.16 and pullback in wave (2) ended at 30.46. Rally in wave (3) ended at 49.13 and wave (4) pullback ended at 40.26. Expect the ETF to continue higher in wave (5) and dips to find support in 3, 7, or 11 swing against 25.88 low. We do not cover GDXJ as part of our regular service. However, we cover GDX, Gold, and other commodities, stocks, forex, and crypto currencies. If you’d like to check our service, you can take our 14 days trial here –> 14 days Trial Source:https://elliottwave-forecast.com/stock-market/gold-miners-junior-etf-gdxj-extending-higher/
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Like
Report
Login to post
No comments yet