For investors seeking momentum, VanEck Steel ETF (SLX) is probably on the radar. The fund just hit a 52-week high and has risen 57.3% from its 52-week low of $51.69 per share.But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook to get a better idea of where it might head:SLX in FocusThe underlying NYSE Arca Steel Index tracks the overall performance of companies involved in the steel sector. The product charges 56 bps in annual fees (See: All Materials ETFs ...

For investors looking to buy the global steel sector, we do not recommend investing in VanEck Steel ETF ( SLX ). SLX will soon transition to a new benchmark, the MVSLX Index. MVSLX poses several problems. Firstly, MVSLX does notI'm a long-time investing enthusiast, with a fascination for the history of cyclical patterns in metals and minerals prices. I have a Msc in Geology, with a focus on applied risk management. My geological education taught me to approach the analysis of risks to assets and people from ...