Gold closed at an all time high on Friday.

Gold broke higher on Monday, but then formed a bearish reversal on the day.

A swing high and break below the daily cycle trend line will signal the daily cycle decline. A peak on day 14 shifts the odds towards a right translated daily cycle formation, which aligns with gold being in a daily uptrend.

A case can be made that day 26 was not a DCL, but a half cycle low, making Monday day 40 of a stretched daily cycle.

Regardless of the daily cycle count, there is a real battle going on at the previous all time high of 2089.20.

While gold may lose this battle and decline into a DCL, the next daily cycle is where gold could breakout and sustain a trending move.