Suspicions Confirmed

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On Sunday Night we discussed gold and how I was suspicious that gold was about to embark on its intermediate cycle decline. Today confirmed my suspicions that gold has begun its intermediate cycle decline.

9 gld

Gold broke below the previous daily cycle low today to form a failed daily cycle. And a failed daily cycle signals that the intermediate cycle is in decline. With today was day 6 gold still has another 3 to 5 weeks before being in its timing band to print a daily cycle low.

And the dollar rallying out of its daily cycle low helped to send gold into its intermediate cycle decline.

88 $$$

The Dollar closed above the lower daily cycle band confirming that today is day 3 of a new daily cycle. I believe that the dollar has also begun a new intermediate cycle. A close above the upper daily cycle band will confirm a new intermediate cycle for the dollar.

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