They are now barfing quality like Franco Nevada, along with all the garbage that people have been puking up for months now. When the sector bottoms out of this destruction the rebound should be a turn and burn. FNV would set sights on the now declining EMA 50 as an initial bounce target.
Institutions are being forced to liquidate the good stuff and the coming sell out should signal the ending phase of this down leg. FNV is probably going to slam the thick support zone. Maybe even cut through it.
The sector is technically broken until some important upside resistance levels are taken out. HUI 460 sounded an alert 120 points ago and there have been several more levels breaking like twigs ever since.
The pukage in play now implies a good, hard trading opportunity is upcoming. But the institutions now getting forced into redemption need to calm down first. No urge to touch this just yet.