Crude & Natural Gas Trigger Buy Signals; Project 3Q Surges into Aug/Sept ‘23!
06-29-23 – “Crude/Unleaded Gas have likely completed their corrections and should rally 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 this week. A weekly close above 74.50/CLU is needed to confirm a 1 – 2 month (or longer/larger) bottom. If triggered, that should spur a 2 – 3 month rally into Aug/Sept ’23 – the next phase of a ~5-Year Cycle.
Natural Gas plunged back to long-term support (~2.000/NG), completing a full cycle and full wave structure after peaking in line with an ~8.25-year high-high-high-(high 2Q/3Q ‘22), an ~11-month high-high-high-(high; Aug 2022) AND an over-arching 22 – 23 month high-high-high-(high; Aug/Sept 2022) Cycle Progression. This overall decline was/is likely to bottom in June ’23 – a ~3-year cycle from the June ‘20 low and the latest phase of an ~18-month high-low-low-low-(low) Cycle Progression.
3 – 6 month & 6 – 12 month traders and investors can enter long position in Sept ‘23 e-mini Natural Gas futures at current levels (~2.630/QGU) and average into these 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.
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.