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. 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.
Gold, Gold Miners, and Steel Charts
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.