The Miners formed a swing low on Tuesday to indicate a potential early daily cycle low. And with the Miners currently in a daily uptrend, the swing low offers a low risk entry.
But today, I want to look at the longer term weekly chart.
The Miners were held under the 25 level for over 2.5 years until they finally closed above the level 2 weeks ago.
The current decline into the daily cycle low is allowing the Miners to backtest the long term resistance level, as seen in the above weekly chart. The Miners are currently in a weekly uptrend. If the Miners can form a bullish weekly reversal this week followed by a weekly swing low next week then the Miners will remain in their weekly uptrend and give a weekly cycle band buy signal.
Cycle Trading 
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