Looking below, silver is probably following the same pattern. Double 3.
Short Term Elliott Wave View on GDX suggests that rally to 35.74 ended wave 3 on April 12, 2024. From there, the ETF pullback as adouble three Elliott Wave structure. Down from wave 3, wave (a) ended at 33.44 and wave (b) ended at 34.35. Wave (c) lower ended at 32.43 which completed wave ((w)). The ETF then rallied in wave ((x)) as as a double three structure in lesser degree. Up from wave ((w)), wave (w) ended at 33.95 and wave (x) ended at 33.11. Wave (y) higher ended at 34.31 which completed wave ((x)).
IVR Price at posting:
4.9¢ Sentiment: Buy Disclosure: Held
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