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Cycle Trading: Oil Establishing An Uptrend

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Oil's daily cycle peaked on day 26, formed a swing high and began its daily cycle decline. Oil printed its lowest point on Tuesday, day 37. That places oil in its timing band to print a daily cycle low. The swing low that formed today indicates that Tuesday hosted the daily cycle low. A break above the declining trend line will confirm the new daily cycle. Oil had been closing above the upper daily cycle band prior to declining into its daily cycle low. Oil closed above the lower daily cycle

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