Miner Progress- Update

Last Thursday we looked at the Miners and observed that they formed a daily swing low to signal a new daily cycle.

On Monday the Miners formed a weekly swing low.

The Miners printed their lowest point last week, which was week 28, to place them deep in their timing band for an intermediate cycle low. Forming a weekly swing low signals a new intermediate cycle. A break of the declining weekly trend line will confirm the new intermediate cycle. The Miners are in a weekly uptrend. Since the weekly swing low formed above the lower weekly cycle band — they will remain in their weekly uptrend and trigger a weekly cycle band buy signal. A break above the multi year resistance level indicates a resumption of the bull market.

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 )

Google photo

You are commenting using your Google 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 )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.