PMs at intermediate cycle low
Breaking below the previous daily cycle low caused the Miners to break below the week 27 low — which extends the intermediate cycle making this week 32. Only 1 time since 2015 has an intermediate cycle exceeded 32 weeks. That one ran 33 weeks. So the odds are very good that once the DCL forms, it will also mark the intermedia cycle low. The Miners are currently in a weekly uptrend. If a weekly swing low forms above the lower weekly cycle band then the Miners will remain in their weekly uptrend and trigger a weekly cycle band buy signal.
Whilst the USD remains in its bear market rally, the pressure will continue on the precious metals and the miners.