VanEck Rare Earth & Strategic Metals ETF – REMX (1D) Elliott Wave Technical Analysis
Daily Chart Analysis

Function: Countertrend

Mode: Corrective

Structure: Zigzag

Position: Wave [c] of 4

Direction: Bear Market Rally

Invalidation Level: $32.36

Analysis Summary:
The REMX ETF is currently in wave 4, which appears to be in its final subwave before completing the correction. This countertrend rally is anticipated to retrace between 38.2% to 50% of the previous wave 3 decline. A key confirmation of this expanded flat pattern will be breaking above the $51.10 high.

Wave 4 is likely to terminate around the $57.12 level. Once completed, a new impulsive decline in wave 5 is expected to follow, taking prices below the origin of wave 4. Traders should monitor the structure carefully as the current pattern nears its conclusion.

VanEck Rare Earth & Strategic Metals ETF – REMX (4H) Elliott Wave Technical Analysis
4-Hour Chart Analysis

Function: Major Trend (Minor Degree)

Mode: Motive

Structure: Impulse

Position: Wave [c] (navy) of 4 (grey)

Direction: Rally

Invalidation Level: $32.35

Short-Term Outlook:
The intraday setup points to a fast-developing impulsive rally in wave [c], which is the final segment of wave 4. This leg is expected to take out the previous $51.10 high and extend toward the wave [a] high. A strong upward push is anticipated in the coming sessions, marking the end of this corrective phase.

Conclusion:
REMX is positioned for a bullish move in the short to medium term. The target zone lies between $51.10 and $57.12, driven by the final stages of wave 4. This offers a potential opportunity for bullish ETF positions, with close monitoring of the invalidation levels to manage risk effectively.

Technical Analyst: Simon Brooks

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