Crude oil made an isolated low yesterday between its 15-day and 45-day moving averages and it is closing above those averages today. This is happening near the center of our current strong general reversal zone (July 9 - 18) three trading days following last week's isolated high ($84.52 - Aug. contract chart - on July 5) which was also inside a strong reversal zone. Yesterday's low looks like a sub-cycle bottom (the first in a new and bullish medium-term cycle that began with the $72.44 low of June 4). It's possible prices could push lower tomorrow or even into next week, but if they do, they should stay between those moving averages, and a sub-cycle bottom would be imminent. I am going to enter a long position in crude today, as this market looks quite bullish, and the medium-term cycle is young.