Crude & Natural Gas Buy Signals Validated; Project 3Q Surges into Aug/Sept ‘23!
07-01-23 – “Energy markets are slowly building the case for a new advance… into Sept ‘23… Crude Oil, Unleaded Gas & Heating Oil are poised to enter a new advance after perpetuating an 11-week high-high-high-high-(low) Cycle Progression and a corroborating 27 – 29 day high-low-low-(low) Cycle Progression.
A daily close above 72.69/CLU is needed to confirm a 2 – 4 week (or longer/larger) bottom. That would potentially signal the onset of a new advance that could last into mid-Sept ’23 – the next phase of a 22-week high-high-high-(high: Sept 11 – 15, ’23) Cycle Progression in Crude.
Natural Gas is tracing out a potentially bullish daily trend and daily 21 MAC sequence, triggering an intermediate buy signal on June 29… Natural Gas has been positive after fulfilling analysis for a multi-month bottom in June ’23 – a ~3-year cycle from the June ’20 low & the latest phase of an ~18-month high-low-low-low-(low) Cycle Progression.
At the lows, it also fulfilled a ~3-month/12 – 13-week/~90-degree high-high-high-high-(low; May 29 – June 2, ‘23) Cycle Progression that could/should spur a subsequent 8 – 9 week or longer rally (followed by a pullback into the next phase in early-Sept ’23). This is likely the completion of a major bear market…
A rally and daily close above 2.911/NGU would confirm a new impulse wave… and likely result in a coinciding or ensuing weekly close above its weekly 21 High MAC (~2.890/NGU). At a minimum, Natural Gas could rally to ~3.400 and then ~4.200/NGU.
1 – 4 week & 1 – 2 month traders can still enter long positions in Sept ’23 e-mini Natural Gas futures… down to 2.400/QGU. Place sell stops (exit) on a daily close below 2.195/QGU.” FUTURES TRADING INVOLVES SUBSTANTIAL RISK!
Energy markets are in the time when they should begin multi-month surges as Crude and the products signal secondary lows while Natural Gas validates analysis for a Major bottom in June ‘23. Cycles turn very bullish in 3Q ‘23 and should prompt an overall rally into Aug/Sept ’23 (Sept ’23 = ideal time) – when multiple, long-term cycles collide. Watch two key time frames for sharp surges!
The March 17, 2023 issue of The Bridge – Crude, Natural Gas & the XOI Index details key factors to monitor as energy markets begin to embark on new advances… that should accelerate into Aug/Sept ’23.
Does this Have Anything to Do with Geopolitical Factors?
When & Where Is the Best Place to Enter Long Positions?
How Does This Correlate to Inflation & Interest Rate Analysis?
Refer to the March 17, 2023 issue of The Bridge – Crude, Natural Gas & the XOI Index (FREE with any Weekly Re-Lay subscription of 1 month or longer) for expanded analysis that addresses key aspects of the 2023 outlook for energy markets.
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.