DML – Daily, Weekly
Are the U miners at an inflection point – could they could go either way?
DML has completed a 5 point reversal pattern with BO and BT, and it is bouncing between the DB hump (support) and the reversal pattern (now resistance). The oscillators, however, are indicating negative divergences – i.e. down. Daily Chart:
We have two lines of support. The weekly chart shows that if the DB Hump fails to hold support, the breakout above the 8 year long DTL (blue dashed line) must also be violated.
We have two lines of resistance. The 8 year support TL (solid blue line) has already been broken to the down side. It may be acting as resistance along with the bottom rail of the 5 point reversal pattern.
Should be quite a battle.
Nice Chart Silver Fox
Looks bearish unfortunately..
Thanks for the perspective.