Cycle Trading

The dollar is unrelenting in this daily cycle as it continues to set new daily cycle highs late in the daily cycle.

Prior to today, Friday was the cycle high.
Since we have a new daily cycle high, the earliest a swing high can form will be tomorrow.

Besides a swing high, we will need to see a break of the daily cycle trend line to confirm the cycle decline.

Gold held up well in the face of today’s dollar strength

The gold daily cycle is on day 14.
Despite the dollar strength, gold held up well.

Each passing day brings a greater likelihood that the dollar’s daily cycle will roll over.
Once that happens that should release the pressure on gold.
Gold needs to break above the day three high of 1619.60 for this daily cycle to form as a right translated cycle.

The Miners did not hold up as well as gold.

The Miners were turned back at the daily cycle trend line giving back a bit more today than what it gained yesterday.

Still the bullish scenario for the Miners is still alive.
The Miners would need to break below last Wednesday’s daily cycle low of 35.57 to signal a continued decline into the yearly cycle low.
Unless that happens we will continue to look for a break of the declining trend line to confirm a new daily cycle.

This ain’t no pony ride …