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Cycle Trading

Miner Resistance

The Miners are in daily uptrend and are on day 7 of a new daily cycle which gives us bullish expectations. But the big picture is that the Miners are on week 17 of their intermediate cycle and they are running into a multi year resistance level.

A bullish break could see the Miners testing the 35 to 38 level. However, with the Miners nearing their timing band for an intermediate cycle decline, rejection from this multi year resistance level will send the Miners seeking out their intermediate cycle low.

2 responses to “Miner Resistance”

  1. rob c Avatar
    rob c

    Wow. But if itso ly day 7 then there is plenty time left to break through. A push of gold up to 1600 would do the trick

    Reply
    1. likesmoneystudies Avatar
      likesmoneystudies

      That is correct.
      Looking at the daily cycle count, there is plenty of time left to push through.
      But the weekly cycle is approaching its timing band for its intermediate cycle decline.
      Being in a daily and weekly uptrend has us looking for bullish surprises. A bearish surprise would be a warning signal for the pending intermediate decline.

      Reply

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