Gold closed above the upper daily cycle band back on 1/06, which gave us our first signal that gold was beginning a new daily uptrend.
The decline into the daily cycle low managed to close above the lower daily cycle band, maintaining the new daily uptrend. Gold rallied out of 1/14 daily cycle low and resumed its daily uptrend. Gold is currently due to complete its decline into its daily cycle low. But as long as gold remains above the lower daily cycle band, then gold will remain in a daily uptrend.
As was discussed on Sunday in a Special Industrial Metals Report for subscribers, the Industrial Metals Sector is beginning to form peaks above the upper daily cycle band and troughs above the lower daily cycle band, beginning a daily uptrend.
And the energy sector looks like it is beginning a new daily uptrend.
The energy sector has been in a daily down trend since November, 2015. Energy printed its lowest point on 1/20. Since then XLE has printed a higher low and a higher high, the beginnings of an uptrend. Today XLE closed above the upper daily cycle band delivering another signal that it is beginning a new daily uptrend.