Crude & Energy Complex Poised for Mid-Aug. Low.
Crude & Energy Complex Poised for Mid-Aug. Low.
08/15/18 Weekly Re-Lay Alert: “Crude Oil, Unleaded Gas & Heating Oil did drop to new recent lows, providing the potential for an intermediate low on Aug. 13 – 17 – the latest phase of a ~4-week high-low-low-(low) Cycle Progression. If that takes hold, it could spur a rally back to the highs.
Natural Gas is fulfilling analysis for a rally into mid-August but could still reach key resistance (~3.0500/NG).”
Crude Oil and the Energy complex remain positive as they complete ongoing analysis for a substantial bull market from Sept. 2017 into ~Sept. 2018. Crude is still expected to set another new high – during 3Q ’18 – to fulfill diverse upside objectives and then set the stage for a substantial sell-off (price targets have been published for subscribers).
In the interim, oil markets are expected to set an intermediate low in mid-Aug. before a rally that should carry them to new 2018 highs and fulfill the overall outlook for 2018. This action continues to dovetail with Middle East cycles that signaled a major shift from late-Sept. ’17 into late-Sept. ’18 and were projected to coincide with a ~12-month bull market in Crude.
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.