Crude Oil (CL)

Q-Sp projection goes in line with T-Sp cycle of 57d. So this week is going to be bearish while the next bearish TP is dated to the 20th of Aug.

Annual cycle analysis insists on decline, but previously CL was reluctant to follow bearish signals from annual cycle. It might be the result of extraordinary decline to negative price in Apr and CL requires some time to catch its annual fluctuation in more accurate forms. Anyway, it is more sufficient to sell CL in the middle of Sept.

CL has high ratio of self-similarity with 482 days lag. According to it bearish TP is projected to the 17th of Aug.

However, CL also has close similarity with Gold. Similarity module shows that according this correlation CL has already entered bearish trend.

Thus, it is reasonable to look for sale points for middle and long-run bearish positions. According to TPA look for bearish TP from one of support levels 40.85 and 38.0 if price consolidates under them with target about 30.0.

Smaller ZZs TPA suggests sale from 41.0-41.25 and/or at local min level 38.70.