The metals and mining sector is ready to fall … hard


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Here is the SPDR® S&P Metals and Mining ETF (NYSE :), which has demonstrated its aerial supply through this top horizontal line:

XME Daily Chart

XME Daily Chart

As you can see from many years of data, this instrument certainly has the ability to climb and fall.

XME monthly 2002-2021

XME monthly 2002-2021

As the ratios chart below suggests, XME’s explosive rally against the VanEck Gold Miners (NYSE 🙂 ETF is very long in the tooth, which I think improves the likelihood that XME will experience some weakness.

XME / GDX ratio table

XME / GDX ratio table

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