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

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 (4H) Elliott Wave Technical Analysis
Hourly Chart

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

Technical Analyst: Simon Brooks

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