Here’s another example of a massive reversal day like we had in miners yesterday. Prices bounced the following day but quickly turned back lower.
I expect the same result this time. Miners would have to close above yesterday’s $21.47 high to unwind the bearish reversal.
Yesterday’s reversal dwarfs the one from January in both size and volume. Consequently, I’ll treat today’s price action as death throes of a changing trend unless proven otherwise.