There is
absolutely nothing good that can be said about the mining stocks at this
point. Then again, there has been little good to say about these things
for a long, long time.
The month of October provided a bit of a glimmer of hope but the
rally could not even make it to the 200 day moving average before
failing. The secondary top near 140 lies between the 100 day and the 200
day moving averages and is now going to be a key technical level that
will stand in the path of any recovery rally.
Downside momentum remains strong at this point with no evidence of any concerted buying. (more)
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