ΣL Oil Composite - 1st July 2024 | @ 83 Days | - 2.47%
Last trade: - 2.47% | 'C' class signal detected in Sigma-L Oil Composite (WTI Crude Oil, Brent Crude Oil). Average wavelength of 83 days over 16 iterations since January 2021. Currently peaking
ΣL Cycle Summary
This component, modulated heavily in recent times, endured a period of drawdown from the most recent entry point long. It has retained a place on Sigma-L by the barest of margins due to historical stationarity and the recent increased amplitude. However, it should be also seen in the context of the exceptional longer wave around 16.7 months, last phased in October 2023 and which is phased to be troughing soon. Subscribers should watch out for that update in due course during July’s schedule - likely next week. Typically larger components will have more influence on price action and the longer wave, referenced, exhibits powerful stationarity.
Trade Update
Summary of the most recent trade enacted with this signal and according to the time prediction detailed in the previous report for this instrument, linked below.
Type: Buy - ΣL Oil Composite 26th April 2024
Entry: 26th April 2024
Exit: 1st July 2024
For a composite analysis, each constituent’s respective gain over the period is displayed, in descending order. The average of the constituent gain is also shown.
Constituent Gain:
WTI Crude Oil (-3.45%)
Brent Crude Oil (-1.48%)
Composite Average Gain:
- 2.47%