The Miners had a bullish trifecta by delivering buy signals today on three different time frames.
The Miners have been in decline since May. Today they broke out above the upper cycle band on the 2 hour time frame. While a close above the upper cycle band at the 2 hour level does not guarantee an uptrend, an uptrend cannot begin without a close above the 2 hour upper cycle band.
The Miners printed their lowest point last Wednesday since the day 1 peak. A swing low formed last Thursday but did not deliver confirmation of a new daily cycle. Today’s close above the lower daily cycle band confirms the new daily Miner cycle.
Today the Miners formed a weekly swing low. At week 21, the Miners are in their timing band to print an intermediate cycle low. A declining trend line break is needed to confirm the new weekly cycle.
The Miners have turned the corner on the 2 hour time frame. They confirmed a new daily cycle and formed a weekly swing low while being in the timing band for an intermediate cycle low. I am offering a special 6 week trial subscription offer in order for you to follow my cycle analysis of the Miners as they emerge from this cycle low.
To sign up for the special 6 week trial subsctiption for $15.00 click here.