Oil closed above the 50 day MA on Thursday then closed above the September high on Friday. Printing a higher high signals that the ICL has been set. Oil also closed above the upper daily cycle band on Friday. Closing above the upper daily cycle band ends the daily downtrend and begins a new daily uptrend which indicates a buy signal.
Oil became a bit stretched above the 10 day MA Monday and formed a swing high on Tuesday. However, oil went on to form a bullish reversal off support from the 50 MA day 50 MA on Tuesday. With oil being in a daily uptrend, if oil forms a swing low above the lower daily cycle band, that would indicate that oil will remain in its daily uptrend and deliver another buy signal. A break above 91.35 will from a swing low.
Cycle Trading 
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