Investors are right to be a little concerned when looking across the metals sector of late.
Gold (NYSEARCA:GLD), Gold Miners (NYSEARCA:GDX), and Steel… there all in a short-term decline and approaching critical price support levels. Most of these are trend lines so bulls want them to hold.
In the the chart below, you can see 6 different angles on Gold, the Gold Miners, and steel. Â And in each of these snapshots, you can see that price action is nearing important trend line support levels.
The short-term and long term are converging here, so perhaps the next move will have a meaningful impact on your portfolios.
Stay tuned!
Gold, Gold Miners, and Steel Charts
Twitter:Â Â @KimbleCharting
Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
