A Miner Bullish Scenario

The Miners formed a swing low on Wednesday and delivered bullish follow through on Thursday.

While 19 days is a bit early to expect a DCL, the Miners did turn the 10 day MA lower as it declined into the day 19 low. And following a stretched 67 day DCL we could see a shortened cycle here, which will help to balance out the cycle counts.

There is a bullish zero line crossover on the True Strength Indicator, which often accompanies a DCL. And there is also a change in behavior on RSI 05. Prior to the day 67 DCL, RSI did not even get overbought before reversing and then embedded in oversold. That pattern is changing. The RSI became embedded in overbought during the peak of the pervious cycle. It reversed quickly once oversold and is now heading back up to overbought. If is embeds again in overbought that will be a good indication that the Miners are now in the advancing phase of a new intermediate cycle.

The Miners also managed to close above the 50 day MA on Wednesday. The 50 day MA has been a very difficult resistance for the Miners to overcome. But if the can deliver some bullish follow through here …

.. that would signal a major change in trend. Which will be a game changer