Miner Reversal

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The daily Miner cycle peaked on Day 19, then it began its daily cycle decline. The Miners chopped around for 5 days before breaking below its daily cycle trend line to signal its final decline into a daily cycle low.

gdx

Thursday was day 25 for the daily Miner cycle. The Miners printed a bullish reversal off the support of the 50 day MA. A break above 19.84 forms a swing low. Then a break of the declining trend line will confirm a new daily cycle. A day 19 peak has locked in a right translated nature to this daily cycle. Therefore we expect to see the next daily cycle form a higher daily cycle high and challenge the declining 200 day MA.

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