The Miners printed their lowest point on day 27, placing them squarely in their timing band for a daily cycle low (DCL). Since then, price action had been constrained beneath the 10 day moving average — until Friday.
On Friday, the Miners finally closed above the 10 day moving average, confirming that day 27 as the DCL. This marks an encouraging sign of short-term strength following several weeks of pressure.
However, while this rebound may be constructive, the Miners remain capped beneath the 50 day moving average — the next key resistance level to watch. From a cycle standpoint, no sustained trending move is likely until price closes decisively above that level.
Until then, the Miners remain in a daily downtrend. They will continue to do so unless they can close above the upper daily cycle band, which would confirm a transition back into a daily uptrend.
Cycle Trading 
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