Whilst the main market saw continued chop, the coal miners were especially weak. Two of the big names, Alpha Natural Res' (ANR) and Peabody (BTU) fell a very significant -4.0% and -2.5% respectively. With clear breaks under rising support, both look likely for further near term downside.
The miners have all been struggling for the past few years - ever since we saw a secondary (relative to summer 2008) commodity peak in spring 2011.
The big leaders in Coal.. ANR and BTU, really have major problems now..at least from a technical/chart perspective.
There is clear downside in ANR to $5.50...perhaps even the summer low in the $4.70s
As for BTU, near term weakness seems a given to the low $16s, if not the mid $14s.
Without question, whilst commodity prices remain (surprisingly) weak, the miners are going to really struggle, and this very much includes the precious metals miners.