WTIC Oil Trading Cycle

Yesterday Crude signaled its move into its next short term Trading Cycle Low when it finally broke below my Green TC Uptrend line.  Crude has been a beast to trade lately and at day 37 it is already in the middle of its timing band to find a TC Low (33-50 days on average).  A day 33 high should result in a Right Translated short term Trading Cycle.

My second chart shows the one year price action showing overhead resistance and underlying support.

WTIC Trading Cycle

I have Crude on day 34 and my first chart shows WTIC is very likely starting its decline into its next short term Trading Cycle Low (TC Low).  My second chart is a one year weekly showing the longer 5-6 month Intermediate Cycle pattern.

 

WTIC Oil Update

Getting stopped out of my SCO trade was painful but my charts are showing Oil is at a very important inflection point from both a Cycles and standard TA standpoint. My chart shows Crude backtesting its breakdown from its Yearly Cycle uptrend line. Based on its break below this line … Continue reading →