Mining industry

Monitor and predict the growth prospects and potential risks of the Mining industry by examining the financial and macroeconomic factors affecting it and the latest Mining news tracked by MacroVar. Sign Up Free to get notified instantly on the latest Mining updates and get full access to MacroVar advanced analytics of Global Financial Markets, Economies and Financial Risk.

Click to explore the factors and the financial models used by MacroVar to analyze the Mining industry trend, growth prospects and risks.

Mining industry Markets

Market Symbol Last Mom Trend Exh RSI 1D% 1W% 1M% 1Y%
US Mining industry US.MINING 153.1 0.5 1 2.21908 62.82 0.01123 -0.02843 0.10112 0.23508
Europe Total Market Mining industry EU.MINING 1819.31 0 1 0.90699 56.0692 -0.89 5.11 10.72 0.07595
US Mining Credit Spreads US.MINING.CR 175.33 0 0.5 1.85844 40.8586 0.00366 -0.10004 -0.021 0.38404

Mining industry News

Mining industry Analysis

MacroVar monitors the performance, risk, trend and momentum of the Mining industry by examining the stock and credit performance of major Mining companies across the US, Europe, Eastern Europe and Asia Pacific. Mining Stock performance is monitored by analyzing STOXX equity indices of major Mining companies while Mining credit performance is monitored by analyzing Markit iBoxx credit indices reflecting the performance of the Mining high yield corporate bond market.

MacroVar also monitors fundamental indicators closely linked to the Mining sector published monthly including analysis of sector specific PMI indicators, components of Manufacturing & Services PMI and Economic Sentiment Indicators analysis.

MacroVar also monitors other factors closely related to the Mining industry like closely related financial markets or macroeconmic indicators.

MacroVar estimates the following signals:: Mining momentum, Mining trend, Mining oscillator, Mining RSI and Mining returns.

Mining Industry description

The Mining sector includes the subsectors of Coal, Diamons & Gemstones, General mining, Gold mining and Platinum & Precious metals The subsector of Coal includes companies engaged in the Companies that mine or process bauxite or manufacture and distribute aluminum bars, rods and other products for use by other industries. The subsector of Nonferrous Metals subsector includes companies engaged in the exploration for or mining of coal. The subsector of Diamonds & Gemstones includes companies engaged in the exploration for and production of diamonds and other gemstones. The subsector of General Mining includes companies engaged in the exploration, extraction or refining of minerals not defined elsewhere within the Mining sector. The subsector of Gold Mining includes companies engaged in the Prospectors for and extractors or refiners of goldbearing ores. The subsector of Platinum & Precious Metals includes companies engaged in the exploration for and production of platinum, silver and other precious metals not defined elsewhere.

Mining Industry Momentum

Momentum is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.

MacroVar Mining momentum signal ranges from -100 to +100. The Mining momentum signal is derived as the mean value from 4 calculations for the Mining . The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. Mining return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. Mining momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when Mining momentum signal moves from positive to negative value or vice-versa.

Mining Industry trend

Mining trend signal ranges from -100 to +100. Mining trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. Mining Closing price vs Mining moving average (MA) calculation: If Mining is greater than Mining MA value is +1, else -1, 2. Mining Moving average slope calculation: if current Mining moving average is higher than the previous MA, Mining upward slope +1, else -1
Mining trend model can be used as a trend strength indicator. Mining trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when Mining trend strength indicator moves from positive to negative value or vice-versa.

The most important trend indicator
The Mining 52-week simple moving average and its slope are the most important indicators defining a market’s trend. Mining is in an uptrend when Mining price is higher than the 52-week moving average and the Mining 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the Mining oscillator and Mining RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.

Mining Industry oscillator

The Mining oscillator estimated by MacroVar is the z-score of the currentMining price versus Mining 1-year simple moving average price. The formula for the Mining oscillator is:
Mining oscillator = (Current Price – 250 trading days Mining simple moving average price) / (250 days Mining price standard deviation)

Mining oversold conditions
Mining is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the Mining is oversold it is often due for a rebound. Values of the Mining oscillator lower than -2.5 signify oversold conditions. It must be noted that the Mining oscillator must be analyzed ibn conjunction with the rest ofMining quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the Mining RSI.
Mining overbought conditions
Mining is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the Mining is overbought it is often due for a correction. Values of the Mining oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the Mining quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.

Mining RSI indicator

The RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when Mining is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. DuringMining uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.

Mining Industry returns

MacroVar calculates Mining returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:

Mining returns = (Mining Closing Price – Mining Previous Price)/(Mining Previous Price)

Mining industry

Monitor and predict the growth prospects and potential risks of the Mining industry by examining the financial and macroeconomic factors affecting it and the latest Mining news tracked by MacroVar. Sign Up Free to get notified instantly on the latest Mining updates and get full access to MacroVar advanced analytics of Global Financial Markets, Economies and Financial Risk.

Click to explore the factors and the financial models used by MacroVar to analyze the Mining industry trend, growth prospects and risks.

Mining industry Markets

Market Symbol Last Mom Trend Exh RSI 1D% 1W% 1M% 1Y%
US Mining industry US.MINING 153.1 0.5 1 2.21908 62.82 0.01123 -0.02843 0.10112 0.23508
Europe Total Market Mining industry EU.MINING 1819.31 0 1 0.90699 56.0692 -0.89 5.11 10.72 0.07595
US Mining Credit Spreads US.MINING.CR 175.33 0 0.5 1.85844 40.8586 0.00366 -0.10004 -0.021 0.38404

Mining industry News

Mining industry Analysis

MacroVar monitors the performance, risk, trend and momentum of the Mining industry by examining the stock and credit performance of major Mining companies across the US, Europe, Eastern Europe and Asia Pacific. Mining Stock performance is monitored by analyzing STOXX equity indices of major Mining companies while Mining credit performance is monitored by analyzing Markit iBoxx credit indices reflecting the performance of the Mining high yield corporate bond market.

MacroVar also monitors fundamental indicators closely linked to the Mining sector published monthly including analysis of sector specific PMI indicators, components of Manufacturing & Services PMI and Economic Sentiment Indicators analysis.

MacroVar also monitors other factors closely related to the Mining industry like closely related financial markets or macroeconmic indicators.

MacroVar estimates the following signals:: Mining momentum, Mining trend, Mining oscillator, Mining RSI and Mining returns.

Mining Industry description

The Mining sector includes the subsectors of Coal, Diamons & Gemstones, General mining, Gold mining and Platinum & Precious metals The subsector of Coal includes companies engaged in the Companies that mine or process bauxite or manufacture and distribute aluminum bars, rods and other products for use by other industries. The subsector of Nonferrous Metals subsector includes companies engaged in the exploration for or mining of coal. The subsector of Diamonds & Gemstones includes companies engaged in the exploration for and production of diamonds and other gemstones. The subsector of General Mining includes companies engaged in the exploration, extraction or refining of minerals not defined elsewhere within the Mining sector. The subsector of Gold Mining includes companies engaged in the Prospectors for and extractors or refiners of goldbearing ores. The subsector of Platinum & Precious Metals includes companies engaged in the exploration for and production of platinum, silver and other precious metals not defined elsewhere.

Mining Industry Momentum

Momentum is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.

MacroVar Mining momentum signal ranges from -100 to +100. The Mining momentum signal is derived as the mean value from 4 calculations for the Mining . The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. Mining return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. Mining momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when Mining momentum signal moves from positive to negative value or vice-versa.

Mining Industry trend

Mining trend signal ranges from -100 to +100. Mining trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. Mining Closing price vs Mining moving average (MA) calculation: If Mining is greater than Mining MA value is +1, else -1, 2. Mining Moving average slope calculation: if current Mining moving average is higher than the previous MA, Mining upward slope +1, else -1
Mining trend model can be used as a trend strength indicator. Mining trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when Mining trend strength indicator moves from positive to negative value or vice-versa.

The most important trend indicator
The Mining 52-week simple moving average and its slope are the most important indicators defining a market’s trend. Mining is in an uptrend when Mining price is higher than the 52-week moving average and the Mining 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the Mining oscillator and Mining RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.

Mining Industry oscillator

The Mining oscillator estimated by MacroVar is the z-score of the currentMining price versus Mining 1-year simple moving average price. The formula for the Mining oscillator is:
Mining oscillator = (Current Price – 250 trading days Mining simple moving average price) / (250 days Mining price standard deviation)

Mining oversold conditions
Mining is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the Mining is oversold it is often due for a rebound. Values of the Mining oscillator lower than -2.5 signify oversold conditions. It must be noted that the Mining oscillator must be analyzed ibn conjunction with the rest ofMining quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the Mining RSI.
Mining overbought conditions
Mining is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the Mining is overbought it is often due for a correction. Values of the Mining oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the Mining quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.

Mining RSI indicator

The RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when Mining is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. DuringMining uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.

Mining Industry returns

MacroVar calculates Mining returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:

Mining returns = (Mining Closing Price – Mining Previous Price)/(Mining Previous Price)

Mining industry

Monitor and predict the growth prospects and potential risks of the Mining industry by examining the financial and macroeconomic factors affecting it and the latest Mining news tracked by MacroVar. Sign Up Free to get notified instantly on the latest Mining updates and get full access to MacroVar advanced analytics of Global Financial Markets, Economies and Financial Risk.

Click to explore the factors and the financial models used by MacroVar to analyze the Mining industry trend, growth prospects and risks.

Mining industry Markets

Market Symbol Last Mom Trend Exh RSI 1D% 1W% 1M% 1Y%
US Mining industry US.MINING 153.1 0.5 1 2.21908 62.82 0.01123 -0.02843 0.10112 0.23508
Europe Total Market Mining industry EU.MINING 1819.31 0 1 0.90699 56.0692 -0.89 5.11 10.72 0.07595
US Mining Credit Spreads US.MINING.CR 175.33 0 0.5 1.85844 40.8586 0.00366 -0.10004 -0.021 0.38404

Mining industry News

Mining industry Analysis

MacroVar monitors the performance, risk, trend and momentum of the Mining industry by examining the stock and credit performance of major Mining companies across the US, Europe, Eastern Europe and Asia Pacific. Mining Stock performance is monitored by analyzing STOXX equity indices of major Mining companies while Mining credit performance is monitored by analyzing Markit iBoxx credit indices reflecting the performance of the Mining high yield corporate bond market.

MacroVar also monitors fundamental indicators closely linked to the Mining sector published monthly including analysis of sector specific PMI indicators, components of Manufacturing & Services PMI and Economic Sentiment Indicators analysis.

MacroVar also monitors other factors closely related to the Mining industry like closely related financial markets or macroeconmic indicators.

MacroVar estimates the following signals:: Mining momentum, Mining trend, Mining oscillator, Mining RSI and Mining returns.

Mining Industry description

The Mining sector includes the subsectors of Coal, Diamons & Gemstones, General mining, Gold mining and Platinum & Precious metals The subsector of Coal includes companies engaged in the Companies that mine or process bauxite or manufacture and distribute aluminum bars, rods and other products for use by other industries. The subsector of Nonferrous Metals subsector includes companies engaged in the exploration for or mining of coal. The subsector of Diamonds & Gemstones includes companies engaged in the exploration for and production of diamonds and other gemstones. The subsector of General Mining includes companies engaged in the exploration, extraction or refining of minerals not defined elsewhere within the Mining sector. The subsector of Gold Mining includes companies engaged in the Prospectors for and extractors or refiners of goldbearing ores. The subsector of Platinum & Precious Metals includes companies engaged in the exploration for and production of platinum, silver and other precious metals not defined elsewhere.

Mining Industry Momentum

Momentum is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.

MacroVar Mining momentum signal ranges from -100 to +100. The Mining momentum signal is derived as the mean value from 4 calculations for the Mining . The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. Mining return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. Mining momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when Mining momentum signal moves from positive to negative value or vice-versa.

Mining Industry trend

Mining trend signal ranges from -100 to +100. Mining trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. Mining Closing price vs Mining moving average (MA) calculation: If Mining is greater than Mining MA value is +1, else -1, 2. Mining Moving average slope calculation: if current Mining moving average is higher than the previous MA, Mining upward slope +1, else -1
Mining trend model can be used as a trend strength indicator. Mining trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when Mining trend strength indicator moves from positive to negative value or vice-versa.

The most important trend indicator
The Mining 52-week simple moving average and its slope are the most important indicators defining a market’s trend. Mining is in an uptrend when Mining price is higher than the 52-week moving average and the Mining 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the Mining oscillator and Mining RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.

Mining Industry oscillator

The Mining oscillator estimated by MacroVar is the z-score of the currentMining price versus Mining 1-year simple moving average price. The formula for the Mining oscillator is:
Mining oscillator = (Current Price – 250 trading days Mining simple moving average price) / (250 days Mining price standard deviation)

Mining oversold conditions
Mining is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the Mining is oversold it is often due for a rebound. Values of the Mining oscillator lower than -2.5 signify oversold conditions. It must be noted that the Mining oscillator must be analyzed ibn conjunction with the rest ofMining quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the Mining RSI.
Mining overbought conditions
Mining is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the Mining is overbought it is often due for a correction. Values of the Mining oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the Mining quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.

Mining RSI indicator

The RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when Mining is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. DuringMining uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.

Mining Industry returns

MacroVar calculates Mining returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:

Mining returns = (Mining Closing Price – Mining Previous Price)/(Mining Previous Price)

Mining industry

Monitor and predict the growth prospects and potential risks of the Mining industry by examining the financial and macroeconomic factors affecting it and the latest Mining news tracked by MacroVar. Sign Up Free to get notified instantly on the latest Mining updates and get full access to MacroVar advanced analytics of Global Financial Markets, Economies and Financial Risk.

Click to explore the factors and the financial models used by MacroVar to analyze the Mining industry trend, growth prospects and risks.

Mining industry Markets

Market Symbol Last Mom Trend Exh RSI 1D% 1W% 1M% 1Y%
US Mining industry US.MINING 153.1 0.5 1 2.21908 62.82 0.01123 -0.02843 0.10112 0.23508
Europe Total Market Mining industry EU.MINING 1819.31 0 1 0.90699 56.0692 -0.89 5.11 10.72 0.07595
US Mining Credit Spreads US.MINING.CR 175.33 0 0.5 1.85844 40.8586 0.00366 -0.10004 -0.021 0.38404

Mining industry News

Mining industry Analysis

MacroVar monitors the performance, risk, trend and momentum of the Mining industry by examining the stock and credit performance of major Mining companies across the US, Europe, Eastern Europe and Asia Pacific. Mining Stock performance is monitored by analyzing STOXX equity indices of major Mining companies while Mining credit performance is monitored by analyzing Markit iBoxx credit indices reflecting the performance of the Mining high yield corporate bond market.

MacroVar also monitors fundamental indicators closely linked to the Mining sector published monthly including analysis of sector specific PMI indicators, components of Manufacturing & Services PMI and Economic Sentiment Indicators analysis.

MacroVar also monitors other factors closely related to the Mining industry like closely related financial markets or macroeconmic indicators.

MacroVar estimates the following signals:: Mining momentum, Mining trend, Mining oscillator, Mining RSI and Mining returns.

Mining Industry description

The Mining sector includes the subsectors of Coal, Diamons & Gemstones, General mining, Gold mining and Platinum & Precious metals The subsector of Coal includes companies engaged in the Companies that mine or process bauxite or manufacture and distribute aluminum bars, rods and other products for use by other industries. The subsector of Nonferrous Metals subsector includes companies engaged in the exploration for or mining of coal. The subsector of Diamonds & Gemstones includes companies engaged in the exploration for and production of diamonds and other gemstones. The subsector of General Mining includes companies engaged in the exploration, extraction or refining of minerals not defined elsewhere within the Mining sector. The subsector of Gold Mining includes companies engaged in the Prospectors for and extractors or refiners of goldbearing ores. The subsector of Platinum & Precious Metals includes companies engaged in the exploration for and production of platinum, silver and other precious metals not defined elsewhere.

Mining Industry Momentum

Momentum is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.

MacroVar Mining momentum signal ranges from -100 to +100. The Mining momentum signal is derived as the mean value from 4 calculations for the Mining . The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. Mining return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. Mining momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when Mining momentum signal moves from positive to negative value or vice-versa.

Mining Industry trend

Mining trend signal ranges from -100 to +100. Mining trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. Mining Closing price vs Mining moving average (MA) calculation: If Mining is greater than Mining MA value is +1, else -1, 2. Mining Moving average slope calculation: if current Mining moving average is higher than the previous MA, Mining upward slope +1, else -1
Mining trend model can be used as a trend strength indicator. Mining trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when Mining trend strength indicator moves from positive to negative value or vice-versa.

The most important trend indicator
The Mining 52-week simple moving average and its slope are the most important indicators defining a market’s trend. Mining is in an uptrend when Mining price is higher than the 52-week moving average and the Mining 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the Mining oscillator and Mining RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.

Mining Industry oscillator

The Mining oscillator estimated by MacroVar is the z-score of the currentMining price versus Mining 1-year simple moving average price. The formula for the Mining oscillator is:
Mining oscillator = (Current Price – 250 trading days Mining simple moving average price) / (250 days Mining price standard deviation)

Mining oversold conditions
Mining is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the Mining is oversold it is often due for a rebound. Values of the Mining oscillator lower than -2.5 signify oversold conditions. It must be noted that the Mining oscillator must be analyzed ibn conjunction with the rest ofMining quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the Mining RSI.
Mining overbought conditions
Mining is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the Mining is overbought it is often due for a correction. Values of the Mining oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the Mining quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.

Mining RSI indicator

The RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when Mining is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. DuringMining uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.

Mining Industry returns

MacroVar calculates Mining returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:

Mining returns = (Mining Closing Price – Mining Previous Price)/(Mining Previous Price)