The daily gold cycle usually prints a low every 18 to 24 days. Recently that has stretched to 28 – 30 days. So at day 32, this daily cycle is getting stretched. A swing low should mark the daily cycle low. I decided to use the GLD ETF to look for a swing low.
A break above 105.09 forms a daily swing low. And with gold being so deep in its daily cycle, a swing low should also mark the daily cycle low.
The Miners are also in their timing band to print a daily cycle low.
Today’s lower low has eased the parameters for forming a swing low. A break above 14.29 forms a swing low and quite likely the daily cycle low.