Loading ...Crude Cycle View
Mark may be right here and I would rather be long than short but my cycle counts and forks give me pause.
I have WTIC on day 29 of Trading Cycle 2 (36-44 days low to low on ave), so based on my downtrend fork, $35 would seem to be in reach for the next TC Low. The bounce to start TC3 will break to the upside of my smaller blue fork (both charts).
The bigger issue here is that we are only on week 15 of the longer Intermediate Cycle. These typicaly last 20-25 weeks so if the average holds, we likely have at least 5 more weeks to the downside which would include a bounce to start TC3.
The TC3 bounce will likely be strong enough to shake off the shorts and lure in some new longs. As always, my Forks and Time will guide me.
Here is a second chart with my cycle counts.
