Cycle Trading

The Miners broke convincingly above the declining trend line on Tuesday.

The Miners had been forming a triangle consolidation, forming lower highs and higher lows. And it reached decision time and broke bullishly above the declining trend line. 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 daily cycle band. Breaking above the declining trend line indicates that the Miners remain in their daily uptrend and triggers a cycle band buy signal with a stop placed below Tuesday’s low.