Copper Miners: Not Worth The Risk

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About: Global X Copper Miners ETF (COPX)
by: Taylor Dart
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Taylor Dart
Long/short equity, momentum, gold & precious metals
Summary

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,