In in the present day’s article, we’ll look at the latest efficiency of VanEck Gold Miners ETF ($GDX) via the lens of Elliott Wave Principle. We’ll overview how the rally from the Nov 2025 low unfolded as a 5-wave impulse adopted by a 7-swing correction (WXY) and focus on our forecast for the subsequent transfer. Let’s dive into the construction and expectations for this ETF.
5-wave impulse + 7 Swing WXY correction
$GDX one-hour Elliott Wave chart 12.09.2025
Within the 1-hour Elliott Wave rely from Dec 09, 2025, we noticed that $GDX accomplished a 5-wave impulsive cycle at purple 1. As anticipated, this preliminary wave prompted a pullback. We anticipated this pullback to unfold in 7 swings, probably discovering patrons within the blue field equal legs space between $78.77 and $75.68.
This setup aligns with a typical Elliott Wave correction sample (WXY), during which the market pauses briefly earlier than resuming its major pattern.
$GDX one-hour Elliott Wave chart 12.12.2025
The replace, few days later, from Dec 12, 2025, exhibits that the ETF bounced and made new highs as anticipated. At present, it’s searching for assist towards 12/09 low and better in wave 3. Longs must be risk-free and searching for $96-100 space as the subsequent attainable goal.
Conclusion
In conclusion, our Elliott Wave evaluation of VanEck Gold Miners ETF ($GDX) means that it stays supported towards Dec 2025 lows. In consequence, merchants ought to hold a watch out for any corrective pullbacks which will supply entry alternatives. By making use of Elliott Wave Principle, merchants can higher anticipate the construction of upcoming strikes and improve danger administration in unstable markets.
