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The Miners delivered bullish follow through on Monday by closing above both the declining trend line and the 10 day MA to confirm day 46 as the daily cycle low. The Miners also closed back above the upper daily cycle band to renew its daily uptrend.

However we need to watch RSI. RSI pattern prior to peaking on day 42 was typical of the advancing phase of the intermediate cycle, with embedded periods of being overbought and quick reversals from oversold. But the pattern is changing. Notice how RSI reversed quickly form overbought on day 42 and embedded as it printed the day 46 DCL. If RSI reverses quickly again when it reaches overbought that would signal that the Miners have entered their declining phase for the intermediate cycle.