Gold Uptrend

Gold is demonstrating a bullish change in behavior.

Prior to printing the late December DCL, gold was in a pattern of printing lows below the lower daily cycle band. That is characteristic of a daily downtrend. Since the late December low that pattern has changed. Gold is now forming highs above the upper daily cycle band and lows are now forming above the lower daily cycle band. This is characteristic of gold being in a daily uptrend. Gold will remain in its daily uptrend unless it closes below the lower daily cycle band.

2 thoughts on “Gold Uptrend

  1. A day 27 high means an extremely right translated DC. Is GOLD in a new IC or is it still seeking it out? Extremely right translated cycles do not occur near the end of an IC…or am I wrong? tia

    • Skip,
      Correct. A new high on day 27 locks in a right translated daily cycle formation which is characteristic of the advancing phase of the intermediate cycle. Which indicates that the December low as an ICL.
      LM

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