CYCLICAL ANALYSIS - Crude Oil to Go Up To Mid October

9月17日

DISCLAIMER: This is not trading advice. This is for educational and entertainment purposes only to show how I view this market. Trading involves real risk. Do your own due diligence.

My COT strategy has Crude Oil SETUP for longs if we get a TRIGGER (Confirmed bullish trend change). But what do cycles have to say about this long trade idea?

Cycles suggest that we should see an up move in Crude Oil until Mid October/Early November.

I look at many interesting things:

-Using the DOW Arab Titans 50 index as a leading indicator of where Crude Oil may trade to.
-The annual cycle of oil is strong and should not be ignored. It too is supportive of taking a long until mid October.
-The Decennial cycle is supportive of a bounce in oil into mid October.
-Major economic cycles & temporary trading cycles are also indicating an upmove could be imminent for oil.
-Lastly, we see that the previous most similar year of price action (2019) suggests oil could move higher into October/November.

TO BE CLEAR: This does not mean I am going long blindly, I wait for entry TRIGGER (18 MA, 10h8c MAC, Divergence). This market did already trigger via divergence last Wednesday via the CCI (Commodity Channel Index) divergence confirmation.

If you have any questions about my cyclical analysis, feel free to shoot me a message.

I hope you had a good start to your week.

And as always...

Good Luck & Good Trading.