In a post below, I’ve taken issue with this conclusion.
Now I’ll explain why.
I just went through my chart files on the NYSE miners.
On my definition, I found just four miners that meet my primary oversold criterion: GSS, GORO, USAS, TRX.
I also have four others that are getting close EQX BTG FURY GSV

(I generally use 3-5 different OB/OS metrics, but I’ve not done a systematic review on them all.)

Most of the rest are not close in any way to being “fully” oversold, aside from short term trading timeframes.
(If you are strictly daytrading or scalping or even swing trading, none of this applies.)

Most miners ARE getting oversold on weekly timeframes. BUT ….
… crashes occur from oversold conditions. These happen when the HIGHER timeframes are pointing down, and these pressures resist bounces you’d normally expect from the oversold weekly readings. In a bull, these would be dip buys. The same readings in a bear are crash warnings. That’s why it DOES matter to read the windsock properly at the higher/highest timeframes. Are we in a bull market or bear? I’ve been consistently arguing since 2014-15 on this site that’s its an extended bear (correction) similar in behavior to 1980-2000. And that’s why I posted my views back in September and October last year that this sector was in the process of resuming its corrective “bear market” direction.