Miner Consolidation

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The Miners declined into a failed daily cycle low in mid-November that has the potential to also be the yearly cycle low.

1 gdx 2016

Since printing the failed daily cycle low in November,, the Miners have been consolidating the sell-off. Which is somewhat similar to how the Miners formed their yearly cycle low last year.

2 gdx 2015

Back in 2015 the Miners declined into a failed daily cycle low in mid-November, which looked potentially to be a yearly cycle low. And like this year, after printing the Mid-November daily cycle low in 2015 the Miners consolidated the sell-off.

3 gdx rally

If the bottoming process this year continues to resemble the 2015 bottoming process then the Miners may still print one more final lower low before emerging from its yearly cycle low.

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