Miner Support

The Miners formed a bullish reversal on Tuesday.

After the big 4.88% rally on Monday, it is not surprising to see a pullback on Tuesday.

Monday’s rally saw the Miners breakout above the 39 resistance level. Tuesday’s bullish reversal backtested that level. This level should now act as support which can be used as a stop.

2 thoughts on “Miner Support

  1. Interesting the way that 39 stop got taken out…..just barely. I knew I should have set it just a little lower. My bad. Hehehe.

    Gold is getting much more fun to trade again, however. Always grateful for your analysis, which I have read for an awfully long time.

    • Eddie,
      I am not sure how much more upside there is to this daily cycle.
      But I think that the next daily cycle will offer us a much better opportunity.

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