Gold closed below both the 200 day MA and the 10 day MA on Friday to signal the daily cycle decline. Gold should go on to turn the 10 day MA lower as it seeks out its DCL.
But today, I want to focus in on the big picture.
Gold is in a monthly triangle consolidation. In a triangle consolidation the cycle low can migrate to the apex of the triangle. A break out of this multi- year consolidation should result in a powerful trending move.