The Miners are beginning to consolidate below the 50 day MA.
The initial rally out of the daily cycle low caused the Miners to become stretched above the 10 day MA. Consolidating below the 50 day MA is allowing the 10 day MA to catch up to price. Notice how RSI 05 is beginning to become embedded in overbought.
Previously RSI 05 was embedding in oversold and reversed quickly once overbought, which is characteristic of the declining phase of the intermediate cycle. RSI embedding in overbought is a signal that the Miners are starting the advancing phase of a new intermediate cycle. The Miners will need to close above the 50 day MA in order for a trending move to be sustained.