The Miners ran into resistance at the declining 50 day MA on Wednesday and formed a swing high on Thursday.
The Miners were rejected by the 50 day MA on Friday then delivered bearish follow through on Tuesday, closing below the 10 day MA. The peak on day 7 sets the Miners up for a left translated daily cycle formation. The Miners are currently in a daily downtrend. Closing below the 10 day MA will indicates a continuation of its daily downtrend and signals a cycle band sell signal.
Cycle Trading 
Leave a comment