Despite copper being down only 3% year-to-date, the copper miners continue to get pummeled, down over 10%.
More than 80% of the copper miners continue to remain in intermediate downtrends, all below their 200-day moving averages.
While a bounce is possible, I see no signs of a sustainable bottom yet.
It's been a challenging year in the commodity space for those venturing any further than the precious metals sector. While the Gold Miners Index (GDX) has put up an impressive 20% return year-to-date,