Crude Confirming Peak
Crude Confirming Peak
Late-March = Next Cycle High
Drop to 2 – 3 Month Support Likely.
02/03/18 Weekly Re-Lay:
“Crude Oil, Unleaded Gas & Heating Oil surged into the final stage of bullish cycles while completing projected rallies from mid-July & early-Oct. – both of which were forecast to ultimately accelerate higher into Jan. 2018, when monthly & yearly cycles converge.
Crude fulfilled expectations for a culminating spike up to its monthly LHR at 66.77/CLJ. Unleaded Gas & Heating Oil concurred.
Crude also perpetuated a 7 – 8 week low-low-low-low-(high) Cycle Progression while also fulfilling the inversion of its larger-degree 31 – 32 week Cycle Progression. All of that fulfilled upside expectations and set the stage for an intermediate peak and reversal lower.
They have begun to validate this scenario but would not show signs of a reversal lower until daily closes below [reserved for subscribers].
Natural Gas is also fulfilling multi-month & multi-year cycles and setting a peak. It would take a daily close below 2.770/NGJ to give initial confirmation to that analysis.”
Crude, Heating Oil & Unleaded Gas have fulfilled cycle analysis and are confirming late-Jan. cycle highs. A corresponding ~8-week cycle could produce the next important high in late-March. In the interim, energy markets have identified downside targets that could be tested in coming weeks. Natural Gas fulfilled its upside price targets and is confirming the potential for a multi-month peak (and subsequent decline into 2Q 2018).
See Weekly Re-Lay & INSIIDE Track for additional analysis and/or trading strategies.