Loading ...Gold Cycle Update
Gold and the miners broke my cycle downtrend line today, very likely signaling a new Trading Cycle here.
I was also expecting a 5-6 month Intermediate Cycle Low as well during the first half of April based on the 5 month IC pattern that Gold has been adhering to over the past 1 year plus. I am struggling to find where Gold’s last Trading or Daily Cycle Low made a lower low. In Cycles, a Lower TC Low is required to ensure that an IC Low has also occurred. My Gold chart shows one possibility of how a “Consolidation” IC Low may have occurred but it is muddled at best.
From a Time perspective, early to mid April is 5 months from early December. As I have said a number of times however, ICs tend to get longer when an asset is bullish and shorter during bearish phases (witness the SPX 5 month low to low when ICs had been running 7-9 months during the bull).
I have the USD on day 14 and wedging into a decision point which could lead to an IC Low (which I thought had happened back in February.
