The VanEck Vectors Steel ETF (SLX) has traded as high as $32.82 today, essentially meeting our $33.00 target that was first mentioned in our July 12th Keys To This Week report (access requires subscription) to capture a 7% rise in the ETF in a little less than a month.

We actually first mentioned SLX as an emerging buying opportunity in the May 23rd Keys To This Week report when it was trading at $24.53.  The ETF has risen by 34% since then.

Here is the chart from that May 23rd report.

Chart 2 from the May 23rd 2016 Keys To This Week
Chart 2 from the May 23rd 2016 Keys To This Week

Here is the chart updated through midday today (August 8th).

SLX through midday on August 8th
SLX through midday on August 8th

 

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