Oil retrace probability high, historically #timecycle Notes.

Oil came near weekly simple model target. Historical probability high for retrace. #timecycle $USOIL $WTI $USO #OIL

Not always will trade retrace on the other side of an important time-cycle, but more often than not it does.

This is a considerable time cycle / time frame (Weekly)... so it is structurally significant and likely to follow probability base on history of the charting.

However, the recent / current trade of oil has been bullish to say the least.

But worth a look and some consideration, if nothing else, short term heads up.

Best

Curt

Comment:

Going back to 2002, 12 out of last 13 major time cycle completions on weekly oil chart (weekly is significant structure) have seen a trend reversal to some extent or another (detailed post on deck) FX $USOIL $WTI $CL_F #OIL #CL $UST $DWT $USO $UCO #OilTrading

twitter.com/curtmelo...s/998007063103131654

I curbed / trimmed oil long bias here... published May 13 "Oil retrace probability high, historically #timecycle Notes." Anyway... working on the detailed blog post now - should be important week. FX $USOIL $WTI $CL_F #OIL $UWT $DWT $USO $UCO #OOTT #Oiltrading

Comment:

The link to the updated oil chart for weekly structure.

FX $USOIL $WTI $CL_F #OIL $UWT $DWT $USO $UCO #OOTT #Oiltrading

Comment:

Feature Post: 12 of Last 13 Oil Chart Time-Cycles Have Trend Reversal. $USOIL $WTI $CL_F $USO $UCO $UWT $DWT #OIL #OOTT compoundtrading.com/...co-uwt-dwt-oil-oott/

Comment:

It happened again:

Dating back to 2002, 13 of 14 major time cycles on weekly crude oil chart structure seen trend reversal to some extent or another #Oil #OOTT #TimeCycles FX USOIL WTI $CL_F $USO $UWT $DWT

Previous Crude Oil Time Cycle Special Report for Context:

Feature Post: 12 of Last 13 Oil Chart Time-Cycles Have Trend Reversal. $USOIL $WTI $CL_F $USO $UCO $UWT $DWT #OIL #OOTT

compoundtrading.com/...co-uwt-dwt-oil-oott/