coppertube

Copper miners not (yet) buying Copper’s bounce

As the copper price firms at its daily SMA 200 the Copper Miner ETF is still bearish Copper price proxy CPER is bouncing at the SMA 200 (as is the metal). But the miners are as yet having none of it. This Head & Shoulders pattern featured ramping volume into the Head and all the substantial volume since has been distribution. Not good. CPER is … Continue reading Copper miners not (yet) buying Copper’s bounce

NFTRH+; GDX & GDXJ [w/ edit to correct an important typo]

[w/ corrective edit] Daily and weekly charts of the two gold stock ETFs. GDX daily kissed the SMA 50 and SMA 200 goodbye and then kissed the neckline to a gross looking pattern goodbye. It is getting short-term oversold and a bounce could come at any time. If so, I’d look to the 30+ area [33+] as an objective. Beyond that it’s still a very … Continue reading NFTRH+; GDX & GDXJ [w/ edit to correct an important typo]