Revisit earlier post on Oil stocks XLE
It seems a subtle trough was made of the 20 day cycle and now failure as expected
This is why cycles are important in the market. In the below post I explained what I thought was a subtle 20 day cycle upcoming on oil stocks and then a move lower into later cycle. As you can see today thats exactly what happened. Not because of my personal bias, but due to cyclitecnical evidence.
Oil stocks $XLE moving slightly higher into February
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In the above chart we see that oil stocks will have a peak soon that will probably be the last stop before a move lower into next year, possibly pushing stocks down 20% or more from the peak. the 54 month cycle projection upwards has already been met in a left translated way much earlier in it’s cycle