Gold Confirms the Daily Cycle Decline

September 27, 2018

The dollar had printed its lowest point last Friday, day 17. Since 8 of the previous 11 daily cycles stretched past 26 days the odds favored the dollar continuing lower.

However, the dollar rallied on Thursday.

The dollar broke higher on Thursday to close above both the declining trend line and the 10 day MA to confirm that Friday was the daily cycle low.

And this sent gold lower.

There was some uncertainty if day 17 was actually a shortened DCL. But gold breaking below the day 17 low indicates that Thursday was day 29 for the daily gold cycle. And a close below the lower daily cycle band confirms that gold has begun its daily cycle decline. At 29 days, this places gold in its timing band for a daily cycle low. But I suspect that gold will continue to trend lower as long as the dollar continues to rally out of its DCL.

4 responses to “Gold Confirms the Daily Cycle Decline”

TimTam

September 27, 2018

LM,

Do you expect the dollar to begin rolling over by day 8?

Reply
1. likesmoneystudies
  
  September 28, 2018
  
  The short answer is yes.
  In the Weekend Report I will break down what to look for that will either confirm or negate that expectation.
  
  Reply
Koen Huysman

September 28, 2018

Frustrating… every time again it turns for longer worse with gold… despite months of talking about a turnaround…

Reply
1. likesmoneystudies
  
  September 28, 2018
  
  Yes, it is frustrating.
  The gold bull must do everything it can to cause all bulls to give up.
  When the last bull capitulates, then the bull can resume.
  
  Reply

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