12 Metals & Mining Wave Setups Reach Resistance Today

Aug 5, 2026 - 9:59 PM EDT

12 of our recent Wave Setups in MMA (Metals, Mining & Agriculture service) hit their next resistance levels today triggering updates!

Wave Setups are high probability Elliott Wave projections with clearly defined parameters of Support, Resistance, Invalidation & Target levels adapted from Elliott Wave based on statistical probability and practical application to Risk:Reward. When they hit a resistance level (usually around an EW way-point) we update those parameters as needed.

We posted a number of "early" Wave Setups mostly on names from our 6/22 list of 41 charts that were arguing more strongly for a bottom to form even though at the time there was potential for GDX to attempt some further extension down. Most of the 12 Wave Setups updated today were initiated on 7/17 & 7/29 with a few in-between, out of 29 total Wave Setups initiated since 6/22 and 19 in July.

GDX - Primary Analysis - Aug-05 2157 PM (15 min)

GDX - Primary Analysis - Aug-05 2157 PM (15 min)

Zac Mannes is a senior analyst at ElliottWaveTrader.net and co-host of the site's Stock Waves service, which provides wave alerts and trade set-ups on individual stocks.

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