Goldtent TA Paradise

Based on my last update, I show Crude chopping in a Bull Flag seeking out its next Intermediate Cycle Low near the 5-6 month timing band as I expected.

https://goldtadise.com/?p=374595

Note how price has remained fairly bullish after breaking my Blue IC trend line but It has mostly been chopping while making lower highs and lower lows. The problem I see for Crude is that its Trading Cycle typically lasts 36-50 days and I have it only on day 14 of TC3.

For the time being, I have been shorting it with SCO when Crude hits the top of my flag and taking profits at the bottom of my flag. A break to the upside of my flag will signal a new Trading Cycle and very likely a new 5-6 month Intermediate Cycle as well. A break to the downside of my flag would likely lead to a larger decline. If the normal timing band applies, we may see 4-6 more weeks of chopping unless we get a shortened cycle.