After emerging form its yearly cycle low in June, oil tested and was rejected by the 50 day MA. But oil recovered and then continued to rally, peaking on day 27. Then oil began its daily cycle decline, printing its lowest point on Thursday, day 39.
At day 39, that placed oil in its timing band to print a daily cycle low. Oil formed a swing low on Friday off of support from the 50 day MA to signal a new daily cycle.
Oil had began to close above the upper daily cycle band prior to declining into its 39 day DCL to establish a daily uptrend. Oil managed to close above the lower daily cycle band as it printed its DCL on Thursday. Once oil closes back above the upper daily cycle band that will confirm the new daily uptrend. Oil will then remain in its daily uptrend until it closes below the lower daily cycle band.
Cycle Trading 
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