Cycle Trading

As oil rallied into the previous daily cycle peak it began to close above the upper daily cycle band to establish a new daily uptrend. Oil managed to close above the lower daily cycle band as it printed its day 38 low. By forming a swing low and closing back above the upper daily cycle band oil confirms that it is in a new daily uptrend. And closing above the upper daily cycle band also delivers a cycle band buy signal. Oil will remain in its daily uptrend until it closes below the lower daily cycle band.