Metals are still bullish, but for how long? [Video]

Gregor Horvat Wavetraders

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.

XME Daily Chart

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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