The Macro Brief - 12 May 2026

Analysis & Learning May 12, 2026

You will come across specific terms in these notes (FLD, VTL, and so on). Rather than explain them each time, you will find definitions here: guidance notes for Hurst cycles terminology.

The Macro Brief is an excerpt from our weekly Macro Outlook newsletter. Today we are highlighting Gold and Oil.

General outlook: Gold Up (->20D peak). Oil Up (->20D peak).

Gold - Heading towards 20 day cycle peak. Up.

Gold has just emerged from a 40 day cycle trough.

Oil (WTI) - Heading towards 20 day cycle peak. Up.

The 20 day cycle may have just formed its trough and we are looking for a refresh up into the next 20 day cycle peak.

Christopher Grafton CMT

Chris has been involved in the markets for 20 years. He is the author of Mastering Hurst Cycle Analysis and is an experienced working technician. Chris holds the CMT qualification.