GDX, ANR, BTU - miners trying to push higher

With the main equity market continuing to battle higher, the miners did especially well, as metal prices jumped sharply higher - not least due to a significantly lower USD. Despite the daily gains, GDX - along with the coal miners (ANR, BTU) still remain in general mid term down trends.


GDX, daily

BTU, daily

ANR, daily

Summary

The price action in the miners was particularly interesting today.

We saw arguably the best coal miner out there - BTU, make an attempt to break its 200 day MA. It failed..but still, the attempt itself was a good initial attempt, and BTU still closed with significant gains of almost 4%.

The Gold/Silver miners did even better, with GDX holding gains of around 5% into the close.

Near term trends for the miners look positive, but on a bigger weekly/monthly time frame, the primary trend remains strongly bearish.