Metals Are Still Bullish, But For How Long?
Aug 21, 2024

XME

Are you wondering for how long metals may stay bullish? Well, looking at the daily chart of Metals and mining sector ETF with ticker – XME, we believe that 2022 high is acting like a magnet after we got only a three-wave A-B-C corrective decline. So, despite recent slow down, which we see it as a higher degree wave 4, metals are quickly recovering and XME can be now on the way higher within 5th wave of a potential ending diagonal (wedge) pattern.

Metals Are Still Bullish, But For How Long? XME Daily Chart
XME Daily Chart

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