The Miners broke bearishly out of its coiling pattern on Thursday.
The Miners are currently in a daily downtrend. Breaking bearishly out of its coiling pattern indicates a continuation of the daily downtrend and signals a cycle band sell signal. However, that all changed on Friday.
The Miners printed a huge bullish engulfing candle on Friday. A close back above the 200 day MA would complete a reversal of the bearish breakdown and should result in a trending move — which we would then label day 20 as the DCL.
Cycle Trading 
Leave a comment