Cycle Trading: Oil Delivers Bearish Signal

LikesMoney Independent Analyst

Oil has formed a weekly swing high this week.

This is week 16 for the intermediate oil cycle. The new high on week 15 shifts the odds towards a right translated weekly cycle formation. However, oil did print a reversal candle last week followed by a weekly swing high this week. If oil closes below the 50 week MA that would signal the intermediate cycle decline.

Author

LikesMoney

Independent Analyst

Assets (such as stocks, gold, and the dollar) have identifiable cycles.

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