12 of last 13 time cycles in Oil trade had trend reversal. #OIL

Weekly Oil Trade Chart Structure

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 blog post on deck).

This structural set-up should not be ignored by oil traders as the weekly chart is a significant structural consideration for long / short bias in oil trade planning and positioning.

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

Comment:

Note: Mid day review will cover oil retrace levels per Feature Post: 12 of Last 13 Oil Chart Time-Cycles Have Trend Reversal. Part 2 with retrace levels specific to this model will be out on wknd. $USOIL $WTI $CL_F $USO $UCO $UWT $DWT #OIL #OOTT compoundtrading.com/...co-uwt-dwt-oil-oott/

Comment:

Oil Algorithm (Weekly Chart Generation 1 Simple Model). 20 MA and Fibonacci support test in progress. See notes. June 3 1014 PM FX $USOIL $WTI $USO $UWT $DWT $CL_F #OIL #Algorithm #OOTT

Comment:

73's to 64's qualifies - important support test this week. FX $USOIL $WTI $CL_F #OIL #CL $UWT $DWT $USO $UCO #OilTrading #OOTT