Bottom?

I have been looking through quite a number of long and short term charts. Apart from the price chart itself, I pay special attention to the CCI(20).

The picture that emerges is that in the short term we have a very oversold condition, which together with the jump up last week suggests that we have a short term bottom here.

Longer term the picture is less clear. The CCI is not low enough for a real bottom signal, but the price charts show lots of support. As I believe that we are in a long term bull market for the sector, it is likely that no true CCI bottom signal will be given (for the long term). That has happened several times before.

I am thus suggesting that a bottom in the U-sector has been reached.

A careful strategy would be to deploy some money here and keep something back to add to the positions either when the long term CCI suggests a bottom, or when the long term CCI gives a buy signal.

Rien

I've the impression the ux-miners hold quite well for the moment.

The low to normal volumes indicate that few are selling but there are few buyers in this market.

veg.

Agreed Veg. The sellers are kind of exhausted, but we need buying volume to get back up. It could last all summer (as usual) before that happens.