Bullish Behavior

00

Since our discussion from last week, the Miners have formed a monthly swing low to signal a new yearly cycle.

gdx daily

Notice that the Miners were in a daily downtrend as it declined into its yearly cycle low. That was characterized by peaks below the upper daily cycle band with lows forming below the lower daily cycle band. That is beginning to change. The Miners have begun to close above the upper daily cycle band. This is bullish behavior that signals an end to the daily downtrend. As the Miners establish a daily uptrend we should see peaks above the upper daily cycle band and cycle lows forming above the lower daily cycle band.

Advertisements

One thought on “Bullish Behavior

  1. Pingback: Bullish Behavior — Revisited | Cycle Trading

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s