Major Support – Miner Reversal

The Miners formed a swing low on Tuesday.

The Miners printed their lowest point on Monday, day 65. That places them very deep in their timing band for a DCL. Next we need to see is a close above the 10 day MA to signal a new daily cycle.  

However, it appears that the Miners found major support for a change in trend.

The Miners are in the process of backtesting a multi year resistance zone, which should now act as a major support level. If the Miners can close above the 50 day MA that has bullish follow through that would signal a change in trend.  

Leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.