$REMX - POTENTIAL SAFE HAVEN -
Added 2024-04-20 19:32:36 +0000 UTCI have been researching this weekend for more Safe Havens and the VanEck Rare Earth/Strategic Metals ETF has caught my attention but has still not reversed yet.
This has an ATH of $347 and is currently sitting at $50.
We have seen some attention lately towards commodities and precious metals so the sector might widen and consider rare earths shortly.
There are two potential triggers here which will signal the reversal:
1. Breaking above the 200 Day MA, currently at $61
2. Breaking out of this channel at $62.
Getting above $62 triggers both and we'll have a hold on the 0.78 Fib too
So I will be watching this closely.
Comments
DBC should ultimately be an equal alternative and is on the verge of breaking out of the wedge. just a short reset first.
Thomas Brandt
2024-04-20 19:48:06 +0000 UTC
