Gold and Precious Metals Sector At Important Juncture!

Chris Kimble

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.

Stay tuned!

Gold, Gold Miners, and Steel Charts

gold precious metals price support important_november

 

 

Twitter:  @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.

 

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