ΣL Oil Composite - 8th February 2024 | @ 81 Days | - 0.16%

Last trade: - 0.16% | 'C' class signal detected in Sigma-L Oil Composite (WTI Crude Oil, Brent Crude Oil). Average wavelength of 81 days over 14 iterations since January 2021. Currently troughing.

ΣL Cycle Summary

This wave, flat over the period since our last report, continues to diminish in amplitude, prompting a downgrade to a ‘C’ category signal until further notice. Ostensibly troughing at the current time but likely fighting against the increasing downward pressure of the longer wave around 16 months, it will be interesting to see how much power is left in this wave to the bullish side. Certainly more amplitude in the forthcoming cycle would give welcome clarity to the phasing - this wave has historical strength, notably in the downtrend 2022-2023. This can also be seen below in the low pass filtered price (yellow line) and the relatively easy to discern undulations of this component within it. Contrast that with the recent linear nature of the line since September 2023 for a stark demonstration of amplitude modulation.

Trade Update

See also: Live ΣL Portfolio & History

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: Early Sell - ΣL Oil Composite 22nd December 2023
Entry: 22nd December 2023
Exit: 8th February, 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:
Brent Crude Oil (0.04%)
WTI Crude Oil (-0.37%)

Composite Average Gain:
-0.16%

Before and After

Signal comparison between our last report and the current time, in chart format.