Gold Close, But No Cigar …


Gold came close to forming a daily swing low on Monday.


Gold printed its lowest point on Friday, following the day 3 peak. Friday was day 25, which places gold right in its timing band to form a daily cycle low. Gold did manage to close back above the 10 day MA on Monday. But still needs to break above 1267.60 to form a daily swing low to signal a new daily cycle. And this will also likely mark a new intermediate cycle as well.

gld traction

It is interesting to note that during the previous intermediate cycle low gold needed a few days after printing its low before getting some traction. And I believe that gold will get that traction once is the dollar forms a daily swing high.


The dollar printed its highest point on Friday day 21 (and actually a case can easily be made that Friday was day 34). At 21 days, that places the dollar right in its timing band to seek out a daily cycle low. If the daily cycle is actually at 35 days, then the dollar is long over due for a daily cycle decline. A break below 96.41 forms a daily swing high to signal the start of the dollar’s daily cycle decline.

$$$ long trerm

And the True Strength Indicator has exceeded the level that has seen all daily cycle over the previous 18 months roll over into a daily cycle decline.


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