The Miners broke bullishly out of consolidation on Thursday but has not been able to deliver any bullish follow through.
The Miners formed a swing high on Monday. The Miners got stretched above the 10 day MA last week. Monday’s swing high is helping to allow the 10 day MA to catch up to price. With the Miners being in a daily uptrend, a successful backtest of the breakout would indicate a continuation of the daily uptrend and signal a cycle band buy signal. But a break below the lower triangle stem would signal the daily cycle decline.
Cycle Trading 
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