Crude Fulfilling Projected Advance
Crude Fulfilling Projected Advance;
Surge into March 26 – 28 Nearly Complete.
Reinforcing Focus on May 2018.
03/21/18 Weekly Re-Lay Alert:
“Crude Oil, Unleaded Gas & Heating Oil remain positive – on a 3 – 6 month basis – targeted to retest their Jan. highs after triggering bullish weekly trend signals in mid-Feb. At that time, they twice neutralized their weekly uptrends but did not turn those trends down.
At the same time, all three markets held at or above their Dec. ’17 lows – the 4th wave of lesser degree on a 3 – 6 month trend/wave basis.
(Unleaded Gas & Heating Oil dropped right to those target levels and reversed higher in mid-Feb., providing the clearest indications that a rally back to the highs was necessary and very likely.)
Unleaded Gas & Heating Oil corroborated that outlook on March 2, when they pulled back to test and hold their weekly HLS levels without setting new lows.
That was powerfully confirmed with their outside-week/2 Close Reversal buy signals triggered on March 16 – projecting an additional 2 – 3 weeks of upside follow-through – coinciding with their daily trends turning back up on March 16 (even as Crude lagged).
On a weekly cycle basis, the energy complex has been forecast to rally into – and set an intermediate peak on – March 19 – 30, the next phase of an 8 – 9 week high-high-high-high Cycle Progression. The action in the products increases the likelihood they will rally into the second of those two weeks – on March 26 – 30.
Crude has not triggered as convincing of signals but remains on track for a retest of its Jan. high and an intermediate peak by March 30, ideally on March 26 – 28 – when the greatest synergy of daily cycles align.
The June contract just turned its daily trend up – a lagging/confirming indicator that corroborates these other bullish signals. Its weekly LHR (65.11/CLM), Jan. high (65.52/CLM) & rally = rally objective (66.13/CLM) form a target range for this advance.”
Crude and the products are fulfilling ongoing analysis for a new rally (from the mid-Feb. cycle lows and respective testing & holding of decisive support levels) into late-March – the latest phase of an 8 – 9 week high-high-high-high Cycle Progression. This action is reinforcing the bigger picture outlook for 2018 – 2019 and corroborating future cycles & wave objectives.
See Weekly Re-Lay & INSIIDE Track for additional analysis and/or trading strategies.