traderdannorcini.blogspot.com / By Dan Norcini / February 28, 2013
Here we are at the end of yet another month during which the mining shares have lost ground. This makes five months in a row of lower prices.
Given the continued weakness in the sector, I thought it helpful to try to take a look at the monthly chart to see how things now stand from a technical analysis standpoint.
Comparing this downleg that began back in September 2011 to the previous downleg that came on the heels of the inception of the credit crisis of 2008, we can see some similarities. I am using standard Fibonacci retracement levels for comparison’s sake.