WTI Crude Oil - 11th July 2024 | @ 16.48 Months | + 4.18%
Last trade: + 4.18% | 'B' class signal detected in WTI Crude Oil. Average wavelength of 501 days (~ 16.4 months) over 11 iterations since December 2010. Currently troughing.
ΣL Cycle Summary
In this long term analysis the stand out periodic feature in oil is clear around 500 days (~ 16.4 months) and has been moving sideways/contracting since the prominent trough in February 2023. The most recent move up looks to be early signs of the latest trough iteration, with a subsequent peak anticipated in the first quarter of 2025, at the current wavelength. Initial targets are price peaks at $87.93 and $95.37.
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: Sell - WTI Crude Oil 27th October 2023
Entry: 27th October 2023 @ 86.07
Exit: 12th July 2024 @ 82.47
Gain: 4.18%