Over the week I posted a chart of Philex Mining. Here, let’s see what the index is doing.
It seems that has started to bottom out. However, the bottoming process doesn’t seem convincing enough because of the lack of a higher high. The higher low is there but the higher high will give us the evidence that the bears are laying it back. 12000 is a level being tough to break but with the bulls having hit this role reversal resistance 2-3 times already is making it weak.
For now, position and swing should still be taking a back seat and wait for further developments but the assuming investors may be interested in accumulation.