Cycle Trading: More Miner Action
|When we last looked at the weekly chart we saw that the Miners had formed a weekly swing low. This week they have delivered bullish follow through.
The Miners have broken above the declining weekly trend line this week to confirm that this is week 2 of a new intermediate cycle. The Miners are currently in a weekly uptrend. They will remain in their weekly uptrend unless they close below the lower weekly cycle band. A break above the Multi Year Resistance level would indicate a resumption of the Miner bull market.
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