Cycle Trading

 Gold tested the psychological 3000 level on Tuesday.

Tuesday was day 34, placing gold in its timing band for a DCL.  At this stage of the daily cycle, it is not likely that gold will be able to make a sustained breakout of the 3000 level. A more likely scenario would be for gold to decline into a daily cycle low. Once gold forms its pending DCL, it will be more likely to sustain a breakout above the 3000 level with a “fresh set of downs”  Gold is currently in a daily uptrend.  Gold will remain in its daily uptrend unless it closes below the lower daily cycle band.