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XME

Silver is gearing for a move up, but is it ready?Silver had a huge move up in 2020, but that was all it managed to do back then. Since its first significant peak in August 2020, it went sideways and started declining. Silver was in a big bear market since 2011, then entered an accumulation range, and then had its capitulation move in March 2020. Then with all the fiscal stimulus, it skyrocketed, but most capital flowed into crypto and stocks, not precious metals. As inflation remains high and interest rates could be near their peak, and investment in metal miners has gone down a lot over the last decade, this precious metal that seems to have lost its shine might be ready to shine again. It looks like silver had a very healthy pullback into the top band of its accumulation range. Now resistance seems to have turned into support, and the market could head toward 24$ in the next few months. The truth is that I don't believe that the market has fully bottomed yet, although it could very well have, and that eventually, it will have on final leg down towards 16$ and bottom there. The main reason I think that has to do with how the market bottom is that there are two double bottoms around 17-18, and there is a little 'gap' at 16. Essentially I would like to see the market test 16$ because I want to see it thoroughly test that untested breakout, the Yearly S3 Pivot, and the Volume Profile Point of Control. Another reason that I think the market will go down there again is that I expect a major deflationary episode to take place in 2023, one that has the potential to create a liquidity squeeze (risk asset collapse) that would affect precious metals too. In my opinion, the current move up in Gold, Copper, Silver, etc., mostly has to do with low production/inventories of metals, while demand seems to have bottomed in the short term. Eventually, the market will get crushed again, but I think the bounce has legs for now. Therefore it would make sense to look for longs in the 16-20$ zone and take profits in the 21.7-24$ area. Shorting 24$ might be a good idea, but I would prefer to watch how the price action develops before I step in.
COMEX:SI1!
by BitcoinMacro
Update on my previous copper ideasDespite Copper falling 38% from its ATHs, we still haven't seen deflation, even though inflation seems to have peaked for now. The inflation story doesn't seem to be over; even inflation moderates and goes close to or below 2%. The big problem right now is that the Copper inventories are extremely low and that the demand for Copper seems to be increasing because of all the green technologies that are being developed. Therefore despite the high-interest rates and the drop in the money supply globally (reduction in overall liquidity, along with a strong dollar), it is possible to see Copper rally higher from here. With the recent drop in the dollar and the potential peak in the USD and short-term interest rates, the market may have bottomed. Of course, this isn't the only reason the market has bottomed. Copper fell a lot, and it hit critical support. They seem to have bottomed at their previous significant highs along with Silver and reversed the upside. I don't think the final bottom is in, although it could be. In my opinion, the market is heading towards 4$ in the short term. Still, in a long time, it is directed towards 2.7$, and maybe even towards 1.6-1.9$ if we get the short-term deflationary collapse, I expect. After the failure, I think new ATHs will come, as Central Banks and Governments globally will print insane amounts of money to save their economies from collapsing.
COMEX:HG1!
by BitcoinMacro
Portfolio Selected Visuals (PSV) vol IThis is a list of my personal portfolio selected ETFs with the simplest visuals, using MACD as the only technical indicator and the trend lines with breaks or breakdowns to give us a new series of PSV charts. ;-) Note that these are using Weekly charts, and a break out is qualified when there is a trendline break out accompanied by a MACD crossover (within a week or two). From left to right... GDX (Gold Miners ETF) qualified a break out on 31 Oct, after a higher low, but sees to have met resistance (red ellipse) ILF (LatAm ETF) is still within a trapped range. XLK (Technology ETF) qualified a break out on 14 Nov, after a higher low, but seems to have met resistance (red ellipse) soon after. GXC (China ETF) qualified a break out on 28 Nov, after a higher low. Appears to have another break out above a resistance line. XLE (Energy ETF) qualified a break out on 17 Oct, after a higher low, but seems to have broke down of support/resistance (red ellipse). INDY (India ETF) qualified a break out on 31 Oct, after a higher low, but seems to have met resistance (red ellipse). XME (Metal Mining ETF) qualified a break out on 24 Oct, after a higher low, but seems to have met resistance (red ellipse). EWS (Singapore ETF) qualified a break out on 14 Nov, without a higher low, and further qualified a better stronger break out pattern on 28 Nov. From this set of visuals, GXC and EWS are the front runners. GDX appears a close third.
AMEX:GXCLong
by Auguraltrader
Crude Oil Continues To Slide Downward - $55~65 on target.Did you follow my research from late October/early November? So many people thought Crude Oil would climb higher on supply concerns (related to Winter/Europe). But here we are sliding below $75 (soon) and targeting the mid-$60s. My call from October was that we may see $64 to $67 as a base. Now, I'm thinking we may see $54 to $57 as a base. What is going to prompt demand for Oil when the world is struggling with post-COVID inflation and the US is in the early stages of a moderate recession? The post COVID commodities recovery phase pushed Crude well above $110 for a while, but now we are starting to transition back to "normal" in terms of true supply/demand. In my opinion, Crude will settle between $55 ~ $65, then attempt to find some support. Follow my research.
NYMEX:CL1!Short
by BradMatheny
2
XME metals & mining BO falling wedge, targets 82 measured flagXME is one of the few etfs that still have a large upside in an environment of high inflation & supply chain issues especially those related to EVs, batteries, semiconductors & renewable energy. 82 will be the measured move of a bull flag BO. 82 is also a confluence of FIB 1.618 & 3.0 & 0.786. 39 is a very strong support so this support will hold & therefore gives a very good risk-to-reward ratio. Not trading advice
AMEX:XMELong
by xtremerider8
Buying opportunity for XME?XME tracks an equal-weighted index of US metals and mining companies. The listed name for XME is SPDR S&P Metals & Mining ETF. As you know, making massive gains from investing is easier said than done. Like so many of our readers, you see the “investment experts” talking about their huge wins and successes… You see the “legendary” stock picks that got 1000% returns in one day, and “The One Device” that’s going to “change everything.” So, like some of our readers, you may have paid for those products… And then you may have received something that doesn’t fulfill the promises they made to you... Every investor in the world loses money sometimes. No matter how famous. No matter how successful… And if someone isn’t transparent with you about their losses, they’re basically not helping you learn from their mistakes. So if an “expert” isn’t willing to show you their losses… and therefore protect you from making the same mistakes they did… how and why are they going to help you? It’s common sense. We believe you should demand transparency when it comes to something as important as your investments. We believe in a free exchange of ideas for investing, trading, income, asset ownership, and wealth preservation. Our publication was created to help the average investor identify the best opportunities for building wealth. We provide information and ideas about investing, asset ownership and wealth preservation so you can make smart decisions with your money. Everyday, our teams curates the most relevant and timely investing information...
AMEX:XME
by UnknownUnicorn38289576
Elliott Wave View: XME Should See Further UpsideShort Term Elliott Wave structure for XME (S&P Metals & Mining ETF) suggests the rally from March 25, 2021 low is unfolding as a 5 waves impulse Elliott Wave structure. Wave 3 of this impulse ended at 47.27 and pullback in wave 4 ended at 43. Internal subdivision of wave 4 unfolded as a zigzag. Down from wave 3, wave ((a)) ended at 44, and bounce in wave ((b)) ended at 46.70. The ETF then extended lower in wave ((c)) towards 43. Wave 4 ended at the 100% – 161.8% Fibonacci extension from wave 3 at 41.38 – 43.41 and the ETF rallied nicely from there. It has broken above wave 3 high suggesting the next leg higher in wave 5 has started. Up from wave 4, wave ((i)) ended at 45.56, and pullback in wave ((ii)) ended at 43.74. Wave ((iii)) remains in progress and can see 3 more highs before ending. Afterwards, a pullback in wave ((iv)) is expected to correct cycle from wave ((ii)) low on May 14 before the rally resumes. Near term, as far as pivot at 43 low on May 13 stays intact, expect the ETF to extend higher.
AMEX:XME
by Elliottwave-Forecast
THE WEEK AHEAD: NFLX EARNINGS; XME, GDXJ/GDX, XBI; VIXEARNINGS: NFLX (46/41) (Tuesday After Market Close). The metrics aren't ideal here, with the rank below 70%, the 30-day below 50% and the at-the-money short straddle paying less than 10% of the value of the underlying in the February cycle, but this is the best of the bunch announcing next week in terms of both liquidity and implied volatility. Pictured here is a February cycle 305/385 delta neutral short strangle paying 7.00 with delta/theta metrics of .84/27.72. Alternatively, go defined risk, shooting to collect one-third the width of the wings with a 305/310/380/385 iron condor paying 1.88 with delta/theta of .70/3.48. I will consider going out farther In time to March to get paid, but the trade-off is that any volatility crush gets muted if you do that. That being said, you do get wider break evens for a similarly delta'd short strangle, so get more room to be wrong. For instance, the similarly delta'd March setup is the 295/395 paying 8.13 at the mid price with delta/theta metrics of -.91/18.54, with break evens of 286.87/403.13 versus the shorter duration's 298/392. EXCHANGE-TRADED FUNDS: ... ordered by rank and showing the month in which the at-the-money short straddle pays greater than 10% of the value of the underlying. I've culled out funds that aren't paying that in 180 days' duration or less, since no one likes to wait that long for their candy. XME (30/21), June GDXJ (17/28), May XBI (12/24), June GDX (11/25), April USO (11/29), April XLE (6/16), July SMH (4/21), May EWZ (3/24), June XOP (2/28), April* I've already got GDX, EWZ, XBI, and XOP on, so may look at getting into some XME, even though there is some overlap with miner holdings, and/or redipping my stick into some SMH, since that pays in a shorter duration. BROAD MARKET: Nothing is paying in <180 day duration .... . FUTURES (EXCLUDING TREASURIES AND CURRENCIES): /NG (39/42) /GC (29/11) /ZC (29/24) /SI (28/18) /CL (23/28) /ES (10/12) /ZW (8/23) Natty is juiced with last week's sell-off, with some understandable trade-related friskiness in the ag complex. Oil's still paying, but only in durations of April or longer. VIX/VIX DERIVATIVES: VIX finished the week levitating a dime above the 12 handle with only the April, May, and June /VX contracts paying greater than 16 (16.05, 16.33, and 16.75, respectively). My general preference for term structure trades is to short only in expiries where the correspondent /VX future is trading above 16 and ordinarily in <90 day duration (e.g., the VIX April 15th 16/18, 87 days 'til expiry, .55 at the mid price with a break even of 16.55 versus the the /VX April contract of 16.05), so would probably only pull the trigger on an April setup. For UVXY and VXX, my short volatility go-to's, I'm patiently waiting for a pop to add and/or to roll what I've got into strength, of which we've had very little. VXX was down 5.67% for the week; UVXY, 8.37%. * -- There isn't an April expiry as of the writing of this post, but January fell off last week, so one will likely be opened and populate this week.
NASDAQ:NFLX
by NaughtyPines