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Cycle Trading

Miner Swing Low

The Miners formed a swing low on Wednesday.

The Miners printed their lowest point on Tuesday, day 16 — which is a bit early to expect a daily cycle low to form. However, Wednesday’s swing low indicates that day 16 may be an early DCL. If the Miners can deliver bullish follow through and close above the previous daily cycle low of 32.87, that will increase the odds that day 16 was the DCL.

And if day 16 turns out to be the daily cycle low. It also has a chance to mark the intermediate cycle low.

2 responses to “Miner Swing Low”

  1. KazMan (@ralphkaz) Avatar
    KazMan (@ralphkaz)

    Does this mean another higher high (GDX over $40) is likely next? Inflation fears are ramping up which might give fire to another leg up for the PMs…

    Reply
    1. likesmoneystudies Avatar
      likesmoneystudies

      If this was the ICL then GDX recovering 40 on the first daily cycle is a possibility.

      Reply

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