ΣL Oil Composite - 22nd December 2023 | @ 82 Days | - 1.45%

Last trade: - 1.45% | 'B' class signal detected in Sigma-L Oil Composite (WTI Crude Oil, Brent Crude Oil). Avg. wavelength of 82 days - 13 iterations since March 2021. Currently approaching a peak.

ΣL Cycle Summary

Price movement, from what was identified as the most likely position for the recent trough of this wave, has been neutral to bearish at the time of writing. Whilst very recent price action has retraced a portion of the fall since early November, this component is due a peak toward the end of December. At this point we class this signal phase as an early sell in the trading section below. Frequency modulation is fairly evident here (+- 12 days) but not enough to consign the ranking to a ‘C’ class, given the historical stability observed in the sample.