Dow Jones Industrial Metals & Mining
17 Sep 2020 ● 10:51 AM
One Subscriber asked me about the US Dow Jones metals index and I found this one interesting in terms of the pattern. The Dow Joines Industrial Metals and Mining index. It has a perfect trianle pattern from 2008-2020 and completed wave E with a throw under the lower line. That false breakdown in the last leg triggered the sharp reversal into wave 5 up that is now in progress. This has been steadily higher. Still halfway through the triangle but the direction should remain up and we should be looking at a breakout eventually and then to new records.
In the meantime the metals index in India is struggling with the falling trendline from the 2017 top. The Nifty metals index stopped just there. So once we breakout of this line it will get noticed by everyone on the street.