Oil printed a bullish reversal on Monday.
Monday was day 46 for the daily oil cycle. Only 2 of the previous 14 daily oil cycles ran past 46 days, so oil is in the later stages of its timing band for a DCL. Monday’s bullish reversal eases the parameters for forming a swing low. A break above 69.84 forms a swing low. Then a break above the declining trend line will confirm the new daily cycle. But there are good odds that if oil can close back above the 50 day MA that will mark the DCL.
Cycle Trading 
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