The miners took a severe beating today after an overnight bear raid in the futures market.
One wonders how long this can continue.
At this point, we are at a decision point, one of capitulation or rebound.
Given the evidence, I still favor a rebound, but evidence for more downside is growing.
Despite a tight, even stretched physical metal market, the miners have performed rather poorly.
They are now at the bottom of the Raff channel I suggested several days ago as a closer view chart shows.
One wonders how long this can continue.
At this point, we are at a decision point, one of capitulation or rebound.
Given the evidence, I still favor a rebound, but evidence for more downside is growing.
Despite a tight, even stretched physical metal market, the miners have performed rather poorly.
They are now at the bottom of the Raff channel I suggested several days ago as a closer view chart shows.
It is do or die time gold miners, time to get moving!
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