Throughout the miners’ complex, precious and otherwise, we are seeing some pullbacks to 30-minute trend support this morning after sharp rallies late-last week.
One of my holdings, coal miner Peabody, is a good example. I scaled partial profits on Friday from the name but retain a small position left (2% of my portfolio).
On the 30-minute chart, below, note the potential to come down to trend support on this timeframe.
Indeed, miners’ bulls are going to have to prove their case this week and be willing, for a change, to step in front of pullbacks as miners attempt to find some footing for at least a tradable rally.
What are you trading this morning?