The Miners are making some noise by breaking out to a new daily cycle high today.
The 30 minute chart yesterday did close below the lower 30 minute cycle band which can be an early warning that a correction is at hand. But this morning the Miners closed above the upper 30 minute cycle band negating yesterday’s close.
However, yesterday’s close allows us to now draw in a daily cycle trend line. And with the Miners breaking out to a new high on day 10, this begins to shift the likelihood that this daily cycle will form as a right translated cycle.
And I believe that the Miners breaking out higher today is linked to the dollar’s daily cycle failing today.
The dollar’s daily cycle peaked on day 5. The close below the lower daily cycle band last Friday signaled the intermediate cycle decline. With a failed daily cycle on day 18 the dollar could still see up to another 5 to 10 more days before a daily cycle low forms.
And I believe that the Miners will continue to rally as the dollar seeks out its daily cycle low.
In the Mid-Week Update we look at the dollar’s failed cycle and what this means on the weekly, yearly, and 15 year cycle.
There has been a change of character for the Miners, the dollar and gold. I am going to offer a special 6 week trial membership for $15 so you can follow their daily, weekly, and yearly cycles. This offer will be good for the remainder of the week. Please click here for the special 6 week trial offer.