Energy Markets Fulfilling Projected Surge into Late-April.
Energy Markets Fulfilling Projected Surge into Late-April.
04/18/18 Weekly Re-Lay Alert:
“Crude Oil, Unleaded Gas & Heating Oil continues to surge, with all three fulfilling the weekly trend pattern buy signals generated in mid-Feb. They remain poised to extend this advance into late-April – a 90-degree cycle from their late-Jan. peaks.
They have surged since bottoming in early-April – without turning their intra-month trends down – while perpetuating a ~60-degree/ 2-month low (Oct. 6 – 9)–low (Dec. 6 – 9)–low (Feb. 6 – 9)–low (April 6 – 9) Cycle Progression.
In the ideal scenario, a high on April 26 would perpetuate a precise 30-degree high-high-high-(high) Cycle Progression that already created the highest daily close on Jan. 26 and ensuing intraday highs on Feb. 26 & Mar. 26.”
Energy markets are surging after holding intermediate support – an advance that should have Crude and the products all surging to new highs. A pullback into early-May could follow. This action is reinforcing the outlook for higher levels in 2Q & 3Q 2018 (see April 2018 INSIIDE Track for latest update) and setting the stage for a new advance. Energy market correlation to overall equity market reinforced. See Weekly Re-Lay & INSIIDE Track for additional analysis and/or trading strategies.