Elliott Wave Training

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Sunday, September 21, 2014

Elliott Wave Analysis of GDX

Should it be a surprise to you that Gold stocks are puking again?

Well it maybe a surprise to you, but not to us. Members have been fully expecting lower prices for a number of months now.We still think we see more downside to complete wave 5 of [3], so under $20.00 is likely but ideally a move towards. $17.00 - 16.00 is seen.

That's where i think it will offer the bulls a great chance to start to accumulate this stock, so as price moves lower and if you are a bull, embrace the opportunity to buy at great levels.

Once wave [3] is completed i am expecting a move towards 35.00 for wave [4] so the potential for a "2 bagger".