Cycle Trading

The Miners delivered a cycle band buy signal on Thursday.

The Miners printed their lowest point on Wednesday, which was day 25. That places them in their timing band for a daily cycle low. The Miners found support from the 50 day MA on Wednesday and printed a bullish engulfing candle which recovered the 10 day MA. They delivered bullish follow through by forming a swing low on Thursday to signal the new daily cycle. A close above the upper daily cycle band will confirm the new daily cycle. The Miners have been in a daily uptrend. Forming the swing low formed above the lower daily cycle band indicates that they remain in their daily uptrend and signals a cycle band buy signal.