Miner Trouble

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What I see developing on the weekly charts presents a troubling scenario.

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The weekly Miner chart has taken on some troubling bearish characteristics. A weekly swing high has formed and by itself could simply be noise. However that noise gets louder when accompanied by a weekly trend line break. Another troubling signal is the bearish crossover on the weekly TSI.

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A bearish crossover on the weekly TSI is a reliable signal of a cycle decline. Combine that with when the weekly RSI(5) crosses below the 70 line and it increases the reliability of signaling a intermediate cycle decline.

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March is month 3 to the yearly Miner cycle. Although the month is not over we see that , the monthly candle has taken on a bearish disposition. A left translated weekly cycle could mean that March was the peak to this new yearly cycle. If that is the case then the Miners would also be continuing a pattern of lower monthly highs.

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