VanEck Rare Earth & Strategic Metals ETF – REMX (1D) Elliott Wave Technical Analysis Daily Chart
REMX Elliott Wave Technical Analysis
Function: Counter-Trend
Mode: Corrective
Structure: Expanded Flat
Position: Wave [c] of 4
Direction: Bear Market Rally
Details:
Wave 4 of the VanEck Rare Earth & Strategic Metals ETF (REMX) is progressing through its final subwave phase before completing the overall correction.
The current bear market rally is expected to retrace between 38.2% and 50% of the preceding wave 3 decline, aligning with classic Elliott Wave corrective behavior.
Confirmation of the expanded flat corrective structure will be achieved if price action surpasses the key resistance level at $51.10.
The projected termination zone for wave 4 stands near the $57.12 price level.
Upon completion of wave 4, a bearish wave 5 decline is forecasted, likely targeting levels below the origin of wave 4.
Invalidation Level: $32.36
VanEck Rare Earth & Strategic Metals ETF – REMX (4H) Elliott Wave Technical Analysis Hourly Chart
REMX Elliott Wave Technical Analysis
Function: Major Trend (Minor Degree, Grey)
Mode: Motive
Structure: Impulse
Position: Wave [c] Navy of 4 Grey
Direction: Rally
Details:
The ongoing rally in the VanEck Rare Earth & Strategic Metals ETF (REMX) should continue with impulsive momentum, aiming to break above the crucial $51.10 resistance.
Wave [c] is anticipated to push strongly toward the previous wave [a] high, confirming the bullish impulse structure within wave 4.
This rally represents the final leg of the corrective wave 4 phase.
There is a possibility of an extended wave pattern, with further advancement into wave iii of (iii).
Critical support that must hold for the bullish scenario remains at $36.33.
Invalidation Level: $36.33
Technical Analyst: Simon Brooks
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