Loading ...Beginning of longer term (intermediate) run for the miners?
The Miners printed their lowest point on day 42, placing them deep in their timing band for a DCL. The Miners formed a swing low on Monday then delivered bullish follow through by closing above the 10 day MA on Thursday to signal that day 42 was the daily cycle low. The Miners will need to break above the declining trend line and the 200 day MA in order for a trending move to develop. In the Weekend Report I will discuss what this means in terms of the longer, intermediate cycle.
In addition, here’s the update from Stewart Thomson:
“And CDNX putting in possible right shoulder low… This, and more, is why I announced my biggest junior core position buying since the last one at March 2020 which was based on Dow 18,300 and gold $1450 buy-side HSR zones.”
GL