Miners still digging

The gold miner ETF of GDX declined for a second consecutive month, to settle -$3.48 (3.8%) to $88.29. 

GDX, monthly 

 

Summary

A bounce to $102.39, but resuming lower to settle in the $88s, as the March bearish engulfing candle played out. Monthly momentum weakened for a second month. RSI has cooled to the 64s.

Considering the SPX was +10.4% in April, the miners performed even worse. 
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Four of the key miners...

Agnico Eagle Mines (AEM)

 

Agnico fell for a second month, settling -$14.77 (7,3%) to $188.21. Monthly momentum weakened for a second month. Vol' declined to 44M. 
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Newmont (NEM)  

 

Newmont saw a net April gain of +$2.84 (2.6%) to $108.25. The monthly candle is black, and leans bearish for May. Monthly momentum weakened for a second month. Vol' declined to 168M
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Barrick Mining (B)

 

Barrick Mining saw a net April decline of -$1.45 (3.5%) to $39.34. Momentum weakened for a second month. Vol' declined to 223M
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Pan American Silver (PAAS)

Pan American Silver saw a net April decline of -$2.34 (4.3%) to $52.29. Momentum weakened for a second month. Volume was cut in half to 95M.  
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Of the four, yours truly favours Newmont. However, gold, silver, and the miners are short/mid term broken. Based on the monthly candles, even the bold will leave them alone at this time. 

For more of the same...  https://www.tradingsunset.com 

Monstrous reversal

The gold miner ETF of GDX saw a monstrous downside reversal, swinging from a new hist' high of $117.18, to settle -$24.07 (20.8%) to $91.77. 

GDX, monthly 

 

Summary

A new hist' high of $117s, but imploding to the $78s, and settling in the $91s. Monthly momentum has rolled over. RSI has cooled to the 67s. 

Most notable of all... the March candle is bearish engulfing, and bodes distinctly s/t bearish for April, and perhaps some months. 
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Four of the key miners...

Agnico Eagle Mines (AEM)

 

Agnico broke a new hist' high of $255.24, if cooling back for a net March decline of -$48.17 (19.2%) to $202.98. Monthly momentum has rolled over. Vol' picked up to 69M. 
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Newmont (NEM)  

 

Newmont saw a net March decline of -$21.49 (16.6%) to $108.25. The monthly candle is bearish engulfing. Monthly momentum rolled over. Vol' picked up to 266M 
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Barrick Mining (B)

 

Barrick Mining saw a net March decline of -$9.95 (19.6%) to $40.79. The monthly candle is bearish engulfing. Momentum rolled over. Vol' was a little higher at 338M
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Pan American Silver (PAAS)

 

Pan American Silver saw a net March decline of -$13.89 (20.3%) to $54.63. Momentum rolled over. Volume was a historic 189M.  
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Of the four, yours truly favours Newmont. However, gold, silver, and the miners are short/mid term broken. Based on the monthly candles, even the bold will leave them alone at this time. 

For more of the same...  https://www.tradingsunset.com 

 

Powerful and profitable miners

The gold miner ETF of GDX broke a new historic high, with a net February gain of +$21.64 (23.0%) to $115.84. 

GDX, monthly 

 

Summary

A very positive end to the month, breaking a new historic high of $115.99. Monthly momentum accelerated upward, and is on the extremely high side. Monthly RSI 89s remains very overbought. 
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Four of the key miners...

Agnico Eagle Mines (AEM)

 

Agnico broke a new hist' high of $252.78, if cooling back for a net February gain of +$61.10 (32.1%) to $251.60. Monthly momentum accelerated upward, and is on the very high side. Vol' was a reduced 49.7M. 
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Newmont (NEM) 

 

Newmont saw a net February gain of +$17.65 (15.7%) to $130.00. Monthly momentum ticked higher, and is on the extremely high side. Vol' was a pretty standard 183M 
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Barrick Mining (B)

Barrick Mining saw a net February gain of +$5.33 (11.7%) to $50.74. Momentum is on the very high side. Vol' was a little lower at 321M
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Pan American Silver (PAAS)

 

Pan American Silver saw a net February gain of +$14.10 (25.8%) to $68.60. Volume remained a high 159M.  
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Of the four, yours truly favours Newmont.

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For more of the same...  https://www.tradingsunset.com