The Miners have been in a daily uptrend since emerging from its yearly cycle low.
The Miner uptrend is characterized by daily cycles that peak above the upper daily cycle band wth daily cycle lows forming above the lower daily cycle band. Setting aside the 1st daily cycle following the yearly cycle low, the remaining daily cycles averaged 20 days from trough to trough.
The Miners printed its lowest point on Monday, following the day 14 peak. Monday was day 20 which places the Miners in their timing band to print a daily cycle low. Monday’s narrow range day has eased the parameters for forming a daily swing low. A break above 29.59 will form a daily cycle low. Then a break above the declining trend line will confirm a new daily cycle.
If Monday ends up being the daily cycle low, that would mean that the Miners printed their DCL above the lower daily cycle band, indicating that the Miners remain in their daily uptrend. The Miners will continue in their daily uptrend unless they close below the lower daily cycle band.