Oil’s Time to Shine

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Oil’s daily cycle peaked last Friday on day 33, where it was rejected by the 200 day MA. A swing high formed on Monday that closed below the upper daily cycle band to signal the daily cycle decline. Today oil breached the daily cycle trend line to confirm the daily cycle decline.

oil

This daily cycle saw oil close above the upper daily cycle band which signals that oil has entered a new daily uptrend. The timing band for oil to print a daily cycle low runs from 30 – 50 days. With today being day 37 it places oil right in its timing band to print a daily cycle low. Oil also printed a bullish reversal above the 50 day MA. If a swing low forms tomorrow it would have formed above the lower daily cycle band which signals that oil has maintained its daily uptrend. A break above 46.73 forms a daily swing low. A break above the upper daily cycle band will confirm a new daily cycle and also confirm oil’s daily uptrend has been maintained.

With commodities showing signs of life it is looking more and more like the dollar’s 3 year cycle has topped. That has implications for its 15 year cycle. I am offering a special 6 week trial membership for $15 so you can follow these cycles. The goal of the Weekend Report is to develop an on-going framework of expectations using cycle analysis. It discusses Dollar, Stocks, Gold, Miners, The CRB Index, & Bonds in terms of daily, weekly and yearly cycles.

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