Goldtent TA Paradise

I show that May has hosted the last few Yearly Cycle Lows. Near term, the USD in in my timing band to start moving into a shorter term Trading Cycle Low. Longer term if the 3 year Cycle has topped, as my Cycle analysis indicates, the 30ema, on the weekly, and my red fork channel should continue to provide resistance and guide price lower.

The top red fork line is the downtrend line into the next 3 year low. Price breaking above that line would signal to me that the 3 year cycle low is in. Right now, we are a bit early in my timing band for that to happen but the markets have been very volatile so we should best watch this channel closely.