2019 Oil Trading & Outlook: Daily 21 MACs Portend New Surge.

2019 Oil Trading & Outlook: Daily 21 MACs Portend New Surge.

01/29/19 Weekly Re-Lay Alert: Crude Oil, Unleaded Gas & Heating Oil remain in 2 – 4 week uptrends, expected to extend them into Feb. 1 – 8, based on a recurring 2-month high-high cycle and an 18 – 19 day low-low-low-(high) Cycle Progression.

Crude & Heating Oil pulled back to their ascending daily 21 High MACs – as Crude tested weekly support and retested its monthly resistance (resistance turned into support) and held.

That should spur rallies to new recent highs in the coming days.  On a slightly larger magnitude, Crude needs a weekly close above 54.76/CLJ to turn its weekly trend up (which would also set the stage for an initial peak).

Crude Oil & oil markets validating potential for new rally into Feb. 2019.  Stock Indexes are similar, reinforcing the energy/equity connection.  The daily 21 MACs are now projecting a new rally into early-Feb. and larger overall advance into ???  Crude poised to reverse weekly trend, escalating this advance to a higher degree.  That would reinforce likelihood for additional upside in 1Q 2019!

What About Next Phase of 18 – 19 Day Cycle?  Are Oil Markets Creating Sequence of Ascending Highs??

Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.