WTI Crude Oil - 16th October 2024 | @ 38.8 Weeks
'A' class signal detected in WTI Crude Oil (WTI/USD). Average wavelength of 271 days (38.8 weeks) over 13 iterations since December 2015. Currently troughing
ΣL Cycle Summary
Bullish power from the larger, troughing wave around 16 months, has failed to materialise so far in oil with some largely sideways price action on show. This smaller cycle, notionally the 40 week nominal wave, is now also due a low and crucially, is phased to peak around the same time as it’s larger brother - early to mid March 2025. These two components working together could see some more power applied to price action, good news for the bulls over the next quarter or so. The cycle in particular has been quite stationary over the last 10 years and shows no signs of modulating, so far, via our sample below; taken since 2015 over 13 iterations.