VanEck Rare Earth & Strategic Metals ETF – REMX Elliott Wave technical analysis [Video]

VanEck Rare Earth & Strategic Metals ETF – REMX (one-day) Elliott Wave technical analysis

Function: Counter trend.

Mode: Corrective.

Structure: Expanded Flat.

Position: Wave [c] of 4.

Direction: Bear Market Rally.

Details:

• Wave 4 is now moving through its final subwave before the correction concludes.

• The current rally is anticipated to retrace between 38.2% and 50% of the wave 3 decline.

• A key confirmation of the expanded flat structure will be surpassing the $51.10 high.

• The expected termination point for wave 4 is around the $57.12 level.

• After wave 4 peaks, a wave 5 decline is expected, likely falling below the origin of wave 4.

Invalidation Level: $32.36.

VanEck Rare Earth & Strategic Metals ETF – REMX (four-hour) Elliott Wave technical analysis

Function: Major Trend (Minor Degree, Grey).

Mode: Motive.

Structure: Impulse.

Position: Wave [c] Navy of 4 Grey.

Direction: Rally.

Details:

• The rally should continue, aiming to break the $51.10 high with impulsive strength.

• Wave [c] is projected to advance swiftly toward the previous wave [a] high.

• This is the final leg of wave 4.

• There is a potential wave extension, suggesting progression into wave iii of (iii).

• Critical support holding for this scenario is at $36.33.

Invalidation Level: $36.33.

VanEck Rare Earth & Strategic Metals ETF – REMX Elliott Wave technical analysis [Video]