Miners Deliver Bearish Follow Through

We discussed on Thursday how the Miners formed a bearish reversal. The Miners formed a swing high and closed below the 10 day MA on Friday. They delivered bearish follow through on Tuesday to signal the daily cycle decline. The Miners should turn the 10 day MA lower as it seeks out its daily cycle low. We will be watching the rising 50 day MA for possible support for the DCL to form. The Miners are currently in a daily uptrend. They will remain in their daily uptrend unless they close below the lower daily cycle band.

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