Cycle Trading

Oil printed a new daily cycle high on Tuesday.

Tuesday was day 44 for the daily oil cycle. That places oil in its timing band for a daily cycle low. The bearish divergence on the oscillators at this late stage of the daily oil cycle signals a pending cycle decline. A swing high and a close below the 10 day MA should send oil into its daily cycle decline. A break below 39.76 forms a daily swing high. Oil is currently in a daily uptrend. If oil closes below the lower daily cycle band that will end the daily uptrend and begin a daily downtrend.