Cycle Trading

The Miners printed their lowest point on day 28, placing them in their timing band for a DCL.

The Miners formed a swing low on last Wednesday then closed above the 10 day MA on Thursday to signal the new daily cycle. The Miners proceeded to deliver bullish follow through to see them testing the declining 50 day MA on Monday.

The Miners lost the 50 day MA back in April. We could see the Miners trade sideways to allow the 50 day MA to flatten out. No trending move will be able to gain any traction until the Miners are able to close back above the declining 50 day MA. The Miners are currently in a daily downtrend. The Miners will remain in their daily downtrend unless they close above the upper daily cycle band.