Cycle Trading: Oil Gaining Traction

LikesMoney Independent Analyst

Oil had been in brutal 8 week decline. Oil seems to have bottomed and is gaining traction.

Oil printed its lowest point on day 73, which was very deep in its timing band for a DCL. Oil has formed a swing low and has since been crawling along the 10 day MA -- turning it higher which signals that day 73 was the daily cycle low. Oil should break above the declining trend line for final confirmation of the DCL.

Author

LikesMoney

Independent Analyst

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

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