Cycle Trading

Oil formed a bullish reversal on Monday.

Oil printed its lowest point on Monday, day 35, placing it in its timing band for a daily cycle low. Monday’s bullish reversal eases the parameters for forming a daily swing low. A break above 73.28 will form a swing low. Then a close above the 50 day MA will signal the new daily cycle. Oil is currently in a daily uptrend. A close back above the 10 day MA that will indicate a continuation of its daily uptrend and signal a cycle band buy signal.