Since the February high of $25.71, the gold miners have broadly churned. There have been fractional (and brief) breaks of core rising trend in both May and June. Such breaks certainly should concern the gold miner bugs.
What should be clear...a big break is due. Which direction will the break be?
Well, I sure don't own a time machine, but commodities can't fall forever. At some point we'll see a push upward.
Interestingly, one indirect bullish indicator for Gold/Silver - and the related mining stocks, is Copper, which is sitting close to the key $2.70 threshold. If copper can break/hold $2.70, it would be subtly suggestive that gold and silver will eventually follow.