GDX- Bullish/Bearish Bias
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As you can see from the chart, listed above are the bullish and bearish counts for Elliot Wave. The current PA suggests a bullish bias however if tomorrow FED raises Interest Rates or is Dovish. We could see the bearish count in play which means ABC in red is complete and the downside target is 28. Now the PA can push through the invalidation level of 30.3 and drop as well. For bullish PA that is above 30.3 hourly/4hour, First Target for TP will be 30.88.
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Current daily trend is corrective in nature, any rejections from 30 will suggest corrective structure is complete and primary bearish trend will resume.
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