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:
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Wave 4 is now moving through its final subwave before the correction concludes.
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The current rally is anticipated to retrace between 38.2% and 50% of the wave 3 decline.
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A key confirmation of the expanded flat structure will be surpassing the $51.10 high.
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The expected termination point for wave 4 is around the $57.12 level.
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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:
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The rally should continue, aiming to break the $51.10 high with impulsive strength.
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Wave [c] is projected to advance swiftly toward the previous wave [a] high.
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This is the final leg of wave 4.
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There is a potential wave extension, suggesting progression into wave iii of (iii).
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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]
