WTI Crude Oil - 14th January 2025 | @ 90 Days
'B' class signal detected in WTI Crude Oil (WTI/USD). Running at an average wavelength of 90 days over 10 iterations since September 2022. Currently peaking
ΣL Cycle Summary
The larger periodic components in Oil have been, for the most part, stuck in a turgid range over the last 6 months or so. Recently that consolidation has been broken with some upward price momentum, much to the relief of bulls. With this increased amplitude we can once again return to the higher frequencies and examine if there are any features worth noting for traders at this timescale. We note on this particular sample a cycle around 90 days is the most dominant feature and is likely peaking at the time of writing. Should the underlying trend be bullish with more upside to come from the larger, more powerful features, then the retrace detailed here will be shallow.