Miner Break Down

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The Miners broke below the lower stem of the triangle in a clear and convincing manner today.

1 gdx

Tuesday was day 20 for the daily Miner cycle. The Miners already broke below the previous daily cycle low on Thursday to form a failed daily cycle, which indicates that the intermediate cycle is in decline. Today the Miners broke below the September low, which forms a failed intermediate cycle.

2 gd weekly

The Miners were unable to close above the upper weekly cycle band during this intermediate cycle to confirm a new yearly cycle. Therefore by breaking below the September low, the Miners remain in a yearly cycle decline.

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