|

VanEck Gold Miners ETF ($GDX) finds buyers at the blue box area as expected

Hello everyone. In today’s article, we will look at the past performance of the 1H Hour Elliott Wave chart of VanEck Gold Miners ETF ($GDX) . The rally from 2.28.2024 low at $25.66 unfolded as 5 waves impulse. So, we expected the pullback to unfold in 3 swings and find buyers again. We will explain the structure & forecast below:

Five wave impulse structure + ABC correction

$GDX one-hour Elliott Wave chart 3.19.2024

Here is the 1H Elliott Wave count from 3.19.2024. We expected the pullback to find buyers at the blue box area at 29.10 – 28.49 in 3 swings.

$GDX one-hour Elliott Wave chart 3.21.2024

Here is the 1H update few days later from 3.21.2024 showing the bounce taking place as expected. The ETF has reacted higher from the blue box area allowing longs to get risk free. The ETF is expected to remain supported with a target area towards $33 – 36 before another pullback can happen.

Author

Elliott Wave Forecast Team

Elliott Wave Forecast Team

ElliottWave-Forecast.com

More from Elliott Wave Forecast Team
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

EUR/USD eases from around 1.1800 after US GDP figures

The US Dollar is finding some near-term demand after the release of the US Q3 GDP. According to the report, the economy expanded at an annualized rate of 4.3% in the three months to September, well above the 3.3% forecast by market analysts.

GBP/USD retreats below 1.3500 on modest USD recovery

GBP/USD retreats from session highs and trades slightly below 1.3500 in the second half of the day on Tuesday. The US Dollar stages a rebound following the better-than-expected Q3 growth data, limiting the pair's upside ahead of the Christmas break.

Gold to challenge fresh record highs

Gold prices soared to $4,497 early on Monday, as persistent US Dollar weakness and thinned holiday trading exacerbated the bullish run. The bright metal eases following the release of an upbeat US Q3 GDP reading, as USD finds near-term demand in the American session.

Crypto Today: Bitcoin, Ethereum, XRP decline as risk-off sentiment escalates

Bitcoin remains under pressure, trading above the $87,000 support at the time of writing on Tuesday. Selling pressure has continued to weigh on the broader cryptocurrency market since Monday, triggering declines across altcoins, including Ethereum and Ripple.

Ten questions that matter going into 2026

2026 may be less about a neat “base case” and more about a regime shift—the market can reprice what matters most (growth, inflation, fiscal, geopolitics, concentration). The biggest trap is false comfort: the same trades can look defensive… right up until they become crowded.

Dogecoin ticks lower as low Open Interest, funding rate weigh on buyers

Dogecoin extends its decline as risk-off sentiment dominates across the crypto market. DOGE’s derivatives market remains weak amid suppressed futures Open Interest and perpetual funding rate.