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Cycle Trading

Miner Breakout

The Miners lost the 50 day MA back in April and has since been contained by it —- until Tuesday.

The Miners printed their lowest point on day 16. While that may have been a bit early to expect a DCL to form, the Miners were overdue for their ICL to form. The Miners are on day 6 of a new daily cycle. The Miners (finally) closed above the 50 day MA. They printed a higher high, breaking above the September high. There is a bullish divergence on the TSI and RSI 05 is beginning to embed in overbought. All these signals indicate that the Miners have begun the advancing phase of a new daily cycle.

2 responses to “Miner Breakout”

  1. ericlemeur2c508ebb6b Avatar
    ericlemeur2c508ebb6b

    Hello – given we have broken over the last DCH, is this cycle likely to be RT ? thanks

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    1. likesmoneystudies Avatar
      likesmoneystudies

      That’s correct. It looks like the Miners have set their ICL and are now advancing in a new intermediate cycle.

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