
Gold closed below the 10 day MA on Monday.

Gold ran into resistance at the 2100 level last week. We discussed on Thursday that a close below the 10 day MA would signal the daily cycle decline. Gold should go on to turn the 10 day MA lower as is seeks out its DCL. However, gold is in a daily uptrend. If gold forms a swing low above the lower daily cycle band then gold will remain in its daily uptrend and trigger a cycle band buy signal.