Cycle Trading

The Miners formed a daily swing low on Friday.

The Miners printed their lowest point on Thursday, day 24. That places them in the early part of its timing band for a DCL.  A swing low and close above the 10 day MA will signal the new daily cycle. However, there is major resistance from the converging of 3 important moving averages, the 10 MA, the 50 MA and the 200 MA. No rally will be above to be sustained until the Miners can close above these 3 moving averages. The Miners are currently in a daily downtrend. They will remain in their daily downtrend unless they close back above the upper daily cycle band.