ΣL Oil Composite - 15th March 2024 | @ 80 Days | + 9.54%
Last trade: + 9.54% | 'C' class signal detected in Sigma-L Oil Composite (WTI Crude Oil, Brent Crude Oil). Average wavelength of 80 days over 15 iterations since January 2021. Currently peaking.
ΣL Cycle Summary
A relatively mild move up typified the up leg of this diminished wave in Oil, historically quite stationary and which is well worth keeping an eye on for subscribers. We have larger components out of phase with this wave, causing largely sideways price action. The component around 277 days (ostensibly the Hurst 40 day nominal wave) is due to trough shortly whilst the larger, more powerful component around 16 months (and ostensibly the Hurst 18 month nominal wave) is hard down with a significant low due in the summer. The short side is probably the side to be on until then for all periodic components in Oil as we can generally assume a 1/f type power law for the distribution of amplitude over frequencies - longer waves, in general, have more power to influence price action.
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 8th February 2024
Entry: 8th February 2024
Exit: 15th March 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 (10.49%)
Brent Crude Oil (8.59%)
Composite Average Gain:
9.54%
Before and After
Signal comparison between our last report and the current time, in chart format.
Time Frequency Analysis
Time frequency charts (learn more) below will typically show the cycle of interest against price, the bandpass output alone and the bandwidth of the component in the time frequency heatmap, framed in white. If a second chart is displayed it will usually show high-passed price with the extracted signal overlaid for visual clarity.