Cycle Trading

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The day following lowest point of the cycle decline is day 1 of a new daily cycle low. Even though the previous Friday saw gold print its lowest point of the cycle decline, gold also delivered a powerful 3.28% day that forced us to label it day 1 of a new daily cycle.

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Gold needed most of this week to consolidate the big day 1 rally that printed on 11/7/14. Gold consoldiated through Thursday. Then on Friday gold delivered a powerful follow through day. Gold rallied 2.25% on Friday, formed a swing low and closed above the declining trend line to confirm a new daily cycle.

Gold is also developing bullishly on its weekly and monthly charts. In the Weekend Report we look at gold’s intermediate and yearly cycles. We discuss where gold is in its weekly and yearly timing bands for cycle lows.

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