Cycle Trading

The big news today is gold.

Gold formed a bullish reversal on Monday. Gold peaked on day 13. If today holds as the daily cycle low then this cycle forms as a right translated daily cycle. More importantly, gold did not break below the April 16th low. That stops a pattern of lower lows. Now we need to see a swing low form by gold breaking above 1399.00. A break above the day 13 high of 1487.8 sets a higher high and confirms that a new yearly cycle also began on April 16.

The Miners also printed a big reversal today.

Today was day 23 for the daily Miner cycle. The Miners printed over a 6% gain. A break above 261.92 forms a swing low and delivers a trend line break. A break above the day 6 high of 293.46 forms a higher high breaking the pattern of lower highs.

What adds to the bullish case is that the entire precious metals complex was up today

We see that besides gold, silver and platinum formed reversals today.
Copper actually had a reversal last Wednesday and Palladium have been leading the charge.

Makes me wonder if it was any coincident that the dollar formed a swing high today.

Monday was day 13 for the daily dollar cycle. The dollar is still 6 days shy of entering its timing band for a daily cycle low. The dollar could just be consolidating after breaching the Bollinger Band on Friday.

However if the dollar’s daily cycle did top today

Then hold on tight …