Loading ...Gold Cycle update
I have Gold on day 8 of a new Trading Cycle and the Miners (GDX) on day 6.
More upside price action is required to confirm that the longer term Intermediate Cycle Low (ICL) is in as well. If GDX cannot move past my second IC down trend line then we may see a lower low in the mid-November timeframe.
If the IC Low is still ahead in mid-November, then the pattern we would most likely see would be for Gold to top and start rolling over between day 9-12 (now on day 8 by my count).
Added: Chart from a few days ago showing we found a TC3 or TC4 Low last Friday (depending on how your count TC1). So this is either TC1 of a new Intermediate Cycle or we are in TC4 or TC5 of the old IC and still looking for a YCL.
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