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The Metals & Mining Sector is in a Critical Area
SPDR S&P Metals & Mining ETF
Short
The Metals & Mining Sector is in a Critical Area
By Ido_Havazelet
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Sep 29, 2019
5
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1
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Sep 29, 2019
Weekly Chart :
The XME is in a Down Trend for almost 2 years.
Two important Technical keys:
1. The Down Trendline
2. The Support are of 24.25-25.43
Daily Chart :
The price getting squeezed between the trendline and the support area -
The Probable Scenarios :
Scenario #1 is more probable, im looking for a break of the support area, in that case, the first target priceis 20.4.
In scenario #2, longs can be taken only above 29.39, and if the volume and trend show strong signals of buying.
Chart Patterns
mining
short
support
Trend Analysis
XME
Ido_Havazelet
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