Cycle Trading

The dollar is in the process of forming a swing high following the bearish reversal on Tuesday.

Wednesday is day 8 for the daily dollar cycle.
Most left translated daily cycles peak on or before day 8.
That leaves another 10 – 17 days for the timing band for a daily cycle low.

It seems that gold was paying attention to the dollar on Tuesday.

Gold formed a bullish reversal on Tuesday and is forming a swing low on Wednesday.

Since Tuesday was day 27 for gold’s daily cycle, the odds are pretty good that it marked a daily cycle low.

Gold needs to break above the declining (blue) daily cycle trend line to confirm a new daily cycle.
More importantly, gold needs to break above the declining (red) intermediate cycle trend line to confirm a new intermediate cycle.

The other precious metals also are following suite.

We see that silver also printed a bullish reversal on Tuesday and is forming a swing low on Wednesday.

Platinum had a big bullish reversal on Tuesday and is following through by forming a swing low today.

Palladium has been leading the precious metals.
It formed a bullish reversal on Friday and is now three days into a new daily cycle and is now breaking out to new highs.

While we await more confirmation from gold,
it certainly looks like precious metals have turned the corner …