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Cycle Trading

Miners Deliver Buy Signal

The Miners formed a swing low on Thursday.

The Miners printed their lowest point on Wednesday, day 49, to place them very late in their timing band for a daily cycle low. So Thursday’s swing low signals a new daily cycle.

The Miners have been in a daily uptrend that has been characterized by highs forming above the upper daily cycle band and lows forming above the lower daly cycle band. Since the swing low formed above the lower daily cycle band that indicates that the Miners remain in their daily uptrend. It also triggers a cycle band buy signal.

4 responses to “Miners Deliver Buy Signal”

  1. Alex Avatar
    Alex

    The swing-low signal is in. But … with the Gold-Silver Ratio ripe to rise in a new DC (after Silver delivers a bull trap in this DC abv 18.16 today/Monday) and with FOMC in sight, isn’t it more likely that weakness will prolong into next week (for Silver till FOMC) since there is historical correlation that the rise of GSR has been concurent with weakness in PM?

    Reply
  2. Alex Avatar
    Alex

    …miners may see resistance at 10dma today as Silver (the laggard in PM sub-complex) delivers the bull trap abv 18.16.

    Reply
  3. likesmoneystudies Avatar
    likesmoneystudies

    True.
    The banks could try to keep gold below 1750 and extend the daily cycle decline.
    But, a close above the 10 DMA will confirm the new daily cycle.

    Reply
    1. Alex Avatar
      Alex

      Thank you!

      Reply

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