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.
Cycle Trading 
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