Miner Consolidation

The Miners have been consolidating below the July – 54 day DCL for the past 3 weeks.

The drop into the August 25 day DCL caused the 10 day MA to drop steeply. Consolidating below the July DCL is allowing the 10 day MA to flatten out, which it needs to do before it can begin to turn higher Once the 10 day MA begins to turn higher, the Miners will need to break above this resistance level in order for this rally to gain traction.

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