XME recently broke above its resistance and seems ready to move higher towards the $70 area.
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...
Despite 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...
This 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...
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...
Nucor Corporation ( NYSE:NUE ) Sector: Non-Energy Minerals (Steel) Market Capitalization: 37.582B Current Price: $143.56 Breakout price: $144.60 Buy Zone (Top/Bottom Range): $142.30-$134.95 Price Target: $152.50-$154.60 Estimated Duration to Target: 18-20d Contract of Interest: $NUE 10/21/22 145c Trade price as of publish date: $7.65/contract
I went long debit spreads this morning on GLD, looking for mean reversion to 21DMA at the least Technically bulls have stepped in right where they needed to prevented further breakdown and defending the 157 zone support line that's played as a major pivot zone for 2+ years now. Quick move to $162 is first PT
XME 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...
Nice reversal off previous resistance (now turned into support) and 200 day moving average. We should get some follow through here to the upside. RSI now nicely oversold and should see a mean reversion bounce in short term
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%...
XME targets 81.83 if this bullish flag pattern plays out. XLE energy & XME metal & mining are very sentive to geopolitical events happening now. They belong to a class of their own unlike XLF, XLI, XLY & XLK which are more cyclical depending on economic conditions. Energy & commodities crisis are not going away soon. Not trading advice
Breakout above $9 Will trigger the ascending triangle price target of $20!! Miners and commodities will spike!!
Bullish breakout and good volume on A-Mark precious metals today up over 8% Projected move is to $95 zone in next few weeks. Really like the set up here with this stock consolidating nicely before each leg up and continuously grinding higher. Bullish on anything coming out of the ground right now :) Options chain was a little dry for me, I'm long shares.
Reliance Steel & Aluminum Co. ( NYSE:RS ) Sector: Non-Energy Minerals (Steel) Market Capitalization: $11.816B Current Price: $191.50 Breakout price: $192.00 Buy Zone (Top/Bottom Range): $187.50-$181.50 Price Target: $209.20-$210.90 Estimated Duration to Target: 68-70d Contract of Interest: $RS 6/17/22 195c Trade price as of publish date: $11.30/contract
Weekly chart on XME looks bullish IMO. I went long commons with price targets above 53.5 and 59 , stop around 48. Nice breakout retest bounce and the volume leads me to be bias to more upside. Swinging this with shares, but the April 54C also looks active with 3K OI
AA cleared the earnings hurdle today and maintained prices levels despite another market down day. 1. Strong daily and weekly trend. 2. 4 bar squeeze. 3. Visible price levels and sitting at volume profile levels. 4. Commodity cycle with inflation to help with tailwind. 5. XME is at the top of channel and AA is strong within the ETF. Entry: 59.50, 58.05 and...
MONERO looks ready for a next long trade setup. RRR is decent depending on your TP , more short or long term. Price came down approx 65% from ATH. Market info and trade template included as always I really like such setups
Short 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))...