It was also a failure at Fibonacci .236 (identical to previous Fibonacci failures).
I sold my position. XME-has been very weak since.
I believe a new down-trend has started. There are many sell signals.
1. Sell Fractals in effect ( on chart).
2. jaws opening in tandem with sell Fractals. Now feeding in down-trend.
3. (under chart) (indicates a trend or choppy action) is ABOVE the 38.2 shaded area, indicating a non-trending asset.
4. Phase energy (lower top indicator) is below zero.
5. Momentum (middle top indicator) is the 5/34 measure, and this is heading DOWN.
6. Prices are trading in the .
7. Prices are trading below the thick red conversion line. This line is heading lower. This is a sell signal.
8. Prices are trading below the Ki jun-Sen (black) baseline of the and this is rolling over to the down-side. This is a sell signal.
I placed two vertical lines on the chart. I call them golden triggers.
Please note the indicator and action at these golden triggers (the 1st a buy.....and the 2nd a sell).
In my opinion-XME will grind its way LOWER. I say "grind" because the chop is in the shaded area. There could be a failed technical rebound.
If (and when) this failure happens, if CHOP heads lower during the selling (out of the shaed area), the selling will most likely get stronger.
Good luck to you in all your trades. Don.