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Cycle Trading: Oil Delivers Bullish Follow Through

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 13, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    After peaking on day 26, Oil formed a swing high and began its daily cycle decline. Oil printed its lowest point last Tuesday. That was day 37 which placed oil right in its timing band to print a daily cycle low. Oil formed a swing low then last Wednesday. Then went on to test the declining trend line on Friday. Oil broke above the declining trend line on Monday and delivered more bullish follow through today. This makes Tuesday day day 5 for the new daily cycle. Oil continues to close above

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