I've been anticipating the nest of lows (Hurst Cycle Analysis) since the beginning of November and thought we hit it at $166.19 on November 22nd. (Obviously not.)
Turns out that bears have been on the right side of history (near-term history).
Not saying we're 'going to the moon' but a rally seems to be due for two reasons.
1. RSI bullish divergence (yellow lines on the chart)
2. The anticipated nest of lows (rudimentary rendering on chart with sine waves) is overdue and I'm thinking that today's low of $155.31 is the Hurst cycles nest of lows (54 month and all lower time cycles) I've been anticipating.
Because of the above, I'm seeing prices move up at the start of an uptrend up to the 54 month cycle. Depending on where this 54 month cycle falls in the longer 9 and 18 year cycles, it could be a strong uptrend supported by higher time cycles, or a muted uptrend that will be halted by the downward cyclic movement of the longer 9/18 year cycles.
I've been studying Hurst cycles for just a couple of months so any insights are appreciated.
Turns out that bears have been on the right side of history (near-term history).
Not saying we're 'going to the moon' but a rally seems to be due for two reasons.
1. RSI bullish divergence (yellow lines on the chart)
2. The anticipated nest of lows (rudimentary rendering on chart with sine waves) is overdue and I'm thinking that today's low of $155.31 is the Hurst cycles nest of lows (54 month and all lower time cycles) I've been anticipating.
Because of the above, I'm seeing prices move up at the start of an uptrend up to the 54 month cycle. Depending on where this 54 month cycle falls in the longer 9 and 18 year cycles, it could be a strong uptrend supported by higher time cycles, or a muted uptrend that will be halted by the downward cyclic movement of the longer 9/18 year cycles.
I've been studying Hurst cycles for just a couple of months so any insights are appreciated.