Loading ...WTIC Crude Intermediate Cycle
Crude has made a bullish run here but today it broke below my Trading Cycle #2 trend line which almost always signals the move into the next TC Low.
The Green lines are TC trend lines and the Blue line is Crude’s longer Intermediate Cycle trend line. The problem I see is that the Intermediate Cycle trend line and the TC2 trend line are one and the same, so this break today may also signal the top is in for this Intermediate Cycle. I took profits on the last of my Producers two days ago (BHP, STO and CPE) and added to my SCO position yesterday as well. My first SCO position was a hedge and I definitely jumped the gun but the total SCO position is almost green now.
