Cycle Trading

Back on Monday we looked at Silver.

We discussed how silver has been making a series of higher highs and higher lows. And that silver appeared to have found support at the rising 50 day MA, forming a swing low last week. But silver was being squeezed by the declining 10 day MA and rising 50 day MA. 

That changed on Thursday.

Silver broke bullishly out of consolidation on Thursday. Silver is currently in a daily uptrend. Closing above the 10 day MA and the upper daily cycle band indicates a continuation of its daily uptrend and signals a cycle band buy signal.