Nice observation, but what is the trade performance for the any decision based on the "golden cross." I would think that trade entry based moving averages that slow could get easily whip-sawed in a fast market. In other words, is it a true signal or a false positive?
oe123
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Good question and thank you for your comment. The 200 and 50 MA are standard and commonly used indicators measuring price movement over a longer period of time so the volatile action in oil at times won't play as much a part with a longer MA. Slower yes but by their very nature, this is what allows the overall price action to be seen even with heavy volatility. The cross is right under current price action suggesting this is a potential turning point. They can also be further away and still be a potential turning point. The trade performance will be based on the technicals or any method the trader deems fit. This is the reason I suggested 63-65s as a starting point. Often price targets are met , exceeded, or not at all.