Gold broke above the declining trend line on Tuesday.
Gold printed it lowest point on Friday, day 27, placing it in its timing band for a DCL. Gold formed a swing low on Tuesday and closed above both the declining trend line and the 10 day MA so we will label day 27 as the DCL. However, no trending move will be sustained unit gold can close above the 50 day MA. Gold is currently in a daily downtrend. Gold will remain in its daily downtrend unless it closes above the upper daily cycle band.
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