Cycle Trading

Oil printed a new high on Monday to lock in a right translated daily cycle formation.

At 33 days, oil is in its timing band for a daily cycle decline. The bearish reversal that formed on Monday eases the parameters for forming a daily swing high. A break below 37.96 will form a swing high then a close below the 10 day MA will signal the daily cycle decline. Oil is in a daily uptrend. If oil forms a swing low above the lower daily cycle band then oil will remain in its daily uptrend and trigger a cycle band buy signal.