Crude & Energy Complex Validating Mid-Aug. Cycle Low.
Crude & Energy Complex Validating Mid-Aug. Cycle Low.
08/18/18 Weekly Re-Lay: “Crude Oil, Unleaded Gas & Heating Oil dropped 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.
In the case of Unleaded Gas, that low could stretch into the coming days and perpetuate multiple geometric cycles and Cycle Progressions. That includes a 3-month/~90-degree Cycle Sequence (Aug. 16, ’17 low – Nov. 16, ’17 low – Feb 14 low – May 17 high – Aug. 17 – 20, ‘18 low).
On a shorter-term basis, that would perpetuate a ~1-month/~30-degree high-low-low-low Cycle Progression (May 17/22 high – June 21 low – July 17 low – August 17 – 22 low) and even a shorter-term low (July 17) – low (Aug. 2) – low (Aug. 17/20) Cycle Progression.
Natural Gas fulfilled analysis for a rally into mid-August but could still reach key resistance (~3.0500/NG) as part of this advance.”
Crude Oil and the Energy complex remain positive and are fulfilling the outlook for 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.
Crude is still expected to set another new high – during 3Q ’18 – to fulfill a myriad of upside objectives (upside price targets have been published for subscribers) and also set the stage for a substantial sell-off in the months that follow. A final high would complete its ~12 month up cycle (since Sept./Oct. ’17), as well as a ~16-month low-low-(high) Cycle Progression.
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.