The dollar broke below the previous daily cycle low on day 7 making this a failed daily cycle. The dollar should be trending lower for the next 8 to 15 days.
Wednesday was day 10 for the daily dollar cycle and the dollar appears to have found some support at the 79 level. We are likely to see an oversold bounce that will set the declining cycle trend line which will set the dollar up for the final plunge into its cycle low.
If the dollar does give a short term bounce, that will likely not be good news for the Miners
The Miners have been caught in the grips of an intermediate cycle decline since late September.
I would say that the Miners printed a daily cycle low on Wednesday, 12/05.
Now today, on day 10, we see the Miners testing the daily cycle low. If the dollar does bounce we will likely see a break below the 12/05 low of 427.46 producing one more failed daily cycle.
Gold may still be looking to print a daily cycle low for its failed daily cycle.
Tuesday was day 31 for gold’s daily cycle. While gold closed slightly lower on Wednesday, it did not print a lower low. I still think that we will see gold make one more push lower, enough to marginally break below Tuesday’s low which should ease the parameters for forming a daily swing low, which should be the daily cycle low.
In the above chart I wanted you to see that in previous times when RSI was this oversold on RSI, Gold rallied. Coupled that with the fact that gold is in the timing band for both a daily and intermediate cycle low suggests that a change in trend is imminent.
Should gold not go lower, then a break above 1703.10 would form a swing low off of Tuesday’s low.
Either way, this ride is long from being over …
Cycle Trading 
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