Cycle Trading

Oil broke below the October DCL on Monday to form a failed daily cycle and extend its intermediate cycle decline.

Monday was day 40, placing oil deep in its timing band for a DCL. Oil formed a huge bullish reversal, easing the parameters for forming a swing low. A break above 80.50 will form a swing low. Then a break above the declining trend line will signal the new daily cycle.

In the Weekend Report I will discuss how oil may not only forming a daily cycle low, but an intermediate cycle low as well.