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Topic: Market Analysis from Elliott Wave Forecast

Hello everyone,

We are a Forecasting Company where we have built our reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Swing sequences, Distribution system and the Right Side system which consists of Right Side tags to inform clients of what side of the market should be traded and blue boxes to show areas for buying / selling. We provide precise forecasts with up-to-date analysis for 78 instruments including Forex, Commodities, ZN (10 year note yields), World Indices, Stocks, ETFs and Bitcoin.

We want to share some free analysis we do on a regular basis here and show you our point of view. We hope you will like it.

We provide precise forecasts with up-to-date Elliott Wave analysis for 78 instruments including Forex, Commodities, ZN (10 year note yields), World Indices, Stocks, ETFs and Bitcoin.

Re: Market Analysis from Elliott Wave Forecast

Elliott Wave view calls the decline in Gold Miners ETF (GDX) from March 27, 2019 high ($23.40) as an impulse structure. In the chart below, wave 2 of that impulse ended at $22.93. Down from there, wave 3 ended at $20.67 and wave 4 ended at $21.43.  The miners still need to break below wave 3 at $20.67 to validate the view and avoid a double correction. The internal of wave 3 subdivides as an impulse Elliott Wave structure of lesser degree. Wave ((i)) of 3 ended at $21.89 and wave ((ii)) of 3 ended at $22.29. Down from there, wave ((iii)) of 3 ended at $20.71, wave ((iv)) of 3 ended at $20.97, and wave ((v)) of 3 ended at $20.67.

Wave 4 bounce unfolded as a zigzag Elliott Wave structure. Wave ((a)) ended at $21.19, wave ((b)) ended at $20.76, and wave ((c)) of 4 ended at $21.43. Near term, while bounce stays below $21.43, and more importantly below $22.93, expect the miners to extend lower. Potential target to the downside for wave 5 is $19.6 – $20, which is where wave 1 = wave 5.

1 Hour GDX Elliott Wave Chart Midday Update

https://elliottwave-forecast.com/wp-content/uploads/2019/04/GDX-1H20190429211854.png

We provide precise forecasts with up-to-date Elliott Wave analysis for 78 instruments including Forex, Commodities, ZN (10 year note yields), World Indices, Stocks, ETFs and Bitcoin.

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