Cycle Trading: Miner Update
|The Miners printed their lowest point on 10/15. The Miners finally closed above the 10 day MA on Thursday and delivered bullish follow through on Friday to signal that 10/15 was day daily cycle low.
But the Miner got a bit stretched above the 10 day MA and saw some profit taking on Monday and Tuesday, which allowed the 10 day MA to catch up to price. But the Miners closed for a gain on Tuesday. If the Miners deliver bullish flow though and form a swing low off of Tuesday's candle, that will allow us to construct the daily cycle trend line.
And the Junior Miners also looked bullish on Tuesday.
Like the Miners, the Junior Miners saw some profit taking after tagging the 50 day MA. But where the Miners only closed higher, the Junior Miners printed a bullish engulfing candle signaling that the Juniors are ready to trend higher.
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