Look No Further

It’s been a long time since Basic Materials ($DJUSBM) were discussed; we’ll get right to the point.

The building blocks of the economy, basic materials, show a long topping process and reversal (not advice, not a recommendation).

One sector ETF, is IYM; its top holding is Linde PLC.

Linde PLC, LIN, Daily

Putting it all, on one chart.

The trading channel, ‘top-to-pivot’, Fibonacci 34-Days.

Downside projections are shown (magenta lines).

At this point, price action is hitting and hesitating at (nearly) each projection lower (not advice, not a recommendation).

Stay Tuned

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

The Danger Point®, trade mark: No. 6,505,279