Crude Signals

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Crude delivered some bullish signals.

1 oil bullish

Crude printed a bullish engulfing candle on Wednesday.

2 oil daily

Oil printed its lowest point on Wednesday, following the day 5 peak. Wednesday was day 32, placing oil in its timing band for a daily cycle low. The bullish engulfing candle on Wednesday has good odds of signaling the new daily cycle.

Crude also formed a bullish crossover on the True Strength Indicator. A bullish TSI crossover is another signal of an impending daily cycle low.

Oil still needs to form a daily swing low. A break above 41.06 will form a daily swing low. Then regaining the 10 day MA will deliver our first confirmation of a new daily cycle.

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2 thoughts on “Crude Signals

  1. Do you have any links that describe the criteria for a swing low and high? Searched google and couldn’t really find anything solid. Thanks

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