Oil formed a daily swing high on Tuesday.
Tuesday was day 31 for the daily oil cycle. That places oil in its timing band for a daily cycle decline. There are bearish divergences developing on the oscillators that ofter coincide with a cycle top. A close below the 10 day MA will signal the daily cycle decline. The peak on day 30 indicates a right translated daily cycle formation. Which means that our cyclical expectation is to see oil print a higher daily cycle low. However I have concerns that the developing on the weekly cycle that suggest oil still needs to complete its intermediate cycle decline, which I plan to discuss in the Mid-Week Update.
Cycle Trading 
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