for those who follow cycles, here is my chart of the gold miners cycle.
this chart forecasts that as of 1/12/2017 we are due for a miners cycle low in the second part of january 2017.
this cycle will give us hints as to the Trend of gold.
The current Daily cycle looks right translated (the high is in the second half of the cycle) and has gone higher than previous cycle (see arrows).
if the bottom of this upcoming gdx cycle closes Above the previous daily cycle low (see line labeled "Critical level" - we must find a cycle bottom Above that line), it will make a strong signal that the daily cycle Downtrend is Over and we are starting a new Daily cycle uptrend UP.
In plain language as long as we dont make a lower cycle low, it is a strong signal that gold is now in a long term uptrend!
so it looks like there maybe a good Short trade here for a few Days, and then once we bottom, a good Long trade if we dont break the low.
same cycle applies to GDXJ
this chart forecasts that as of 1/12/2017 we are due for a miners cycle low in the second part of january 2017.
this cycle will give us hints as to the Trend of gold.
The current Daily cycle looks right translated (the high is in the second half of the cycle) and has gone higher than previous cycle (see arrows).
if the bottom of this upcoming gdx cycle closes Above the previous daily cycle low (see line labeled "Critical level" - we must find a cycle bottom Above that line), it will make a strong signal that the daily cycle Downtrend is Over and we are starting a new Daily cycle uptrend UP.
In plain language as long as we dont make a lower cycle low, it is a strong signal that gold is now in a long term uptrend!
so it looks like there maybe a good Short trade here for a few Days, and then once we bottom, a good Long trade if we dont break the low.
same cycle applies to GDXJ