Miner Squeeze Play

The Miners ran into resistance at the declining 50 day MA on Wednesday.

The Miners are being squeezed by the declining 50 day MA and the rising 10 day MA. A close back above the 50 day MA would signal that this is the first daily cycle of a new intermediate cycle. But bearish follow through and a break of the daily cycle trend line would indicate a continuation of the intermediate cycle decline. The Miners are in a daily downtrend. But a close above the upper daily cycle band will end the daily downtrend and begin a new daily uptrend.

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