The 6/12/17 Evening Report

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The dollar closed lower on Monday.

$$$ Daily

Monday was day 4 for the dollar’s daily cycle. After an extended daily cycle decline, it is not unreasonable for the dollar to back test the 10 day MA before the daily cycle starts to gain some traction.

And once the dollar’s daily cycle begins to gain some traction that will cause the dollar to form a weekly swing low.

$$$ weekly

The dollar printed its lowest point last week, following the week 4 peak. At 18 weeks, that places the dollar in its timing band for an intermediate cycle low. So if last Tuesday, June 6th, did host the DCL then the rally into a new daily cycle will likely see the dollar go on to form a weekly swing low. A break above 97.47 forms a weekly swing low to signal a new intermediate cycle.

And if the dollar begins a new intermediate cycle, that should send gold into its intermediate cycle decline. But before gold rolls over into an intermediate cycle low there is the potential for this daily cycle to form as a right translated daily cycle.

gld daily

Monday was day 23 for the daily gold cycle. That does place gold in its timing band for a daily cycle low. The 2 obvious areas that could trigger a daily cycle low would from support at the 50 day MA or the 20 day MA.

gld weekly

Gold is in its 2nd intermediate cycle of the year. If the dollar is rallying out of its yearly cycle low that will potentially send gold into its yearly cycle decline. Gold has already formed a weekly swing high following the bearish reversal on week 4. A close below the 50 week MA will signal the intermediate decline for gold.

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5 thoughts on “The 6/12/17 Evening Report

  1. You have gold week 21 as an ICL. Can this be possible without a failed daily cycle? Seems like the failed daily cycle is still ahead of us.

  2. Hi, what happened to JNUG/JDST recently? As the gold goes down hard, but junior miners stock barely follow. Take a look at the trend, when gold up a little, JDST drop sharp. However, XAU index decline consistently. Any idea about this situation? Thanks.

    • The Miners were down big on Wed, temporally exhausting the sellers so I was not surprised that they consolidated on Thurs

      • I agree with you what happened on Wed and Thurs. However, Gold down from 1295 at June 6th to 1254 today. JDST increase from 62.5 to 68.6 today. Dose this mean something to you? Manipulated too much?

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