Miners Face Major Resistance

LikesMoney Independent Analyst

The Miners printed their lowest point on Thursday following the day 16 peak. Thursday was day 18, placing the Miners in their timing band for a daily cycle low.

The Miners formed a swing low on Friday. The Miners will need to close above the 10 day MA in order to signal a new daily cycle. And even if the Miners do close above the 10 day MA they face major resistance from both the declining 200 day MA and the declining 50 day MA. The Miners will remain bearish until the Miners can close convincing above the 50 day MA.

Author

LikesMoney

Independent Analyst

Assets (such as stocks, gold, and the dollar) have identifiable cycles.

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