Technical analysis seldom works for mining stocks so it is best ignored. In fact it can be argued that whenever it seems to work; it actually doesn't - it is just a fluke or happenstance.

I have concluded that the % of the time it works for mining stocks is as follows:

Explorco's = 0%

Developco's = 1%

Developco's plus preliminary, learning curve production = 5%

Full production to end of mine life = 7.5%

The share price of a mining stock, absent any temporary manipulation, is based on well-worn fundamentals.

And they are, simply: the skills of Managment; the grade of the ore; the basic, fixed costs of mining, developing, operating and maintaining the mine and the price of the commodity.

It has ever been thus.

Fred25