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

REMX Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Expanded Flat

Position: Wave [c] of 4

Direction: Bear market rally

Elliott Wave Details:
Wave 4 of REMX appears to be in its final stages, completing an expanded flat corrective structure.
The ongoing rally is expected to retrace between 38.2% and 50% of the preceding wave 3 decline.
A break above resistance at $51.10 will confirm the expanded flat pattern.
Wave 4 is forecast to terminate around the $57.12 level.
Upon completion, a bearish wave 5 decline is projected to unfold, targeting levels below the origin of wave 4.

Invalidation Level: $32.36

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

Function: Major Trend (Minor Degree, Grey)

Mode: Motive

Structure: Impulse

Position: Wave [3] of iii

Direction: Rally

Elliott Wave Details:
The REMX 4H chart displays a developing impulsive rally, extending beyond the previous high of $44.48.
Wave [3] is projected to complete between $41.10 and $42.31.
The low of wave (2) is a critical level to watch for confirmation of the bullish trend.
$36.33 acts as both key support and the invalidation level for the impulsive scenario.

Invalidation Level: $36.33

Technical Analyst: Simon Brooks

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Conclusion & Strategic Notes
VanEck Rare Earth & Strategic Metals ETF (REMX) shows bullish momentum in the short term, supported by both daily and 4-hour Elliott Wave structures.
Price action is expected to break above wave [a], with a primary target of $57.12, aligning wave [c] with wave [a] in terms of length.
This setup offers a compelling opportunity for traders focused on ETF market timing.
Maintaining discipline by adhering to Elliott Wave principles and respecting invalidation levels will help manage trading risk effectively.