Gold got slammed in the overnight. At one point gold was down over 38 points before recovering a bit. But still gold ended down over 26 points for the day which was over 2%.
Gold formed a clear and convincing swing high today and broke below the daily cycle trend line to confirm the daily cycle decline. With a day 9 peak, gold can trend lower for the next two to three weeks. Gold seems destined to print a second consecutive failed daily cycle.
Gold began its intermediate cycle decline on March 17th. Which was about when the dollar began its new intermediate cycle.
The dollar printed its intermediate low on March 13th. It consolidated for a few days before rallying and when it did gold began its intermediate cycle decline. Now as the dollar is emerging out of its daily cycle low gold once again is caught in a cycle decline. This was day 3 for the dollar. Minimally since the dollar just printed a right translated cycle we expect to see the dollar print a higher daily cycle high. And as the dollar continues to rally we can expect to see gold tank.
Cycle Trading 
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