This long term $GDX chart is now 3 years old. Still, we have many reasons to keep it intact. Let’s discuss them.
The chart below was first posted in November 2020.
When we posted this $GDX forecast almost 3 years ago, nobody believed that the miner was going to get back to $30 let alone $20 in a foreseeable future. However, contrary to the mainstream opinion, the $GDX candles guided us perfectly, together with gold, silver, and palladium.
The same chart is taken today.
In today’s analysis, we will traditionally evaluate the candles that the miner formed or about to form on multiple frames. We will discuss technical events and analyze the long and short term targets using Elliott Waves.
Gold and Silver monthly and weekly can be viewed here:
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