On Friday the Miners formed a daily swing low and managed to close above the 10 day MA to signal a new daily cycle. And while gold has confirmed a new daily cycle we still needed to see some bullish follow through this week for the Miners to confirm the DCL.
The Miners did close higher on Monday, but they still have not turned the 10 day MA higher, which is one of our confirmations of a DCL. I will point out that the Miners did close above the 10 day MA on Tuesday. So it is still possible that day 35 did host the DCL. A bullish close on Wednesday would align with that scenario.
However, on Tuesday the Miners printed a bearish engulfing candle, which means that we still do not have confirmation that day 35 hosted the DCL. At this point the Miners could deliver an undercut low. If that were to happen then that would extend the daily cycle count which would make Tuesday – day 43.
Cycle Trading 
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