Gold formed a bearish reversal on Monday. Gold formed a swing high on Tuesday. While gold closed lower Wednesday and Friday, it did not deliver any bearish follow through. Instead it found support at the 10 day MA.
Friday was day 24, placing gold in its timing band for a daily cycle low. Gold should close below the 10 day MA and turn it lower in order to complete its daily cycle decline. However gold formed a bullish reversal on Friday, easing the parameters for a swing low. Gold is currently in a daily uptrend. If gold forms a swing low and closes above the 10 day MA that will indicate a continuation of its daily uptrend and signal a cycle band buy signal — in which we would then label day 24 as the DCL. A break above 3373.47 will form a swing low.
A full breakdown of gold’s daily, weekly, and monthly cycles can be found in the Weekend Report.
Cycle Trading 
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