Crude Rally into Late-Jan. Likely.
Crude Rally into Late-Jan. Likely.
66.80/CLG Target Attainable.
Decisive Peak Expected in Jan. ’18!
01/13/18 Weekly Re-Lay:
“Crude Oil, Unleaded Gas & Heating Oil could be completing projected rallies from mid-July & early-Oct. – both of which were forecast to ultimately accelerate into Jan. 2018, when monthly & yearly cycles converge. In mid-Dec, they entered the final 10 – 20% of those cycles – when the most accelerated advances are often seen.
Crude has reached & exceeded the primary convergence of 1 – 2 week, 1 – 2 month & 3 – 6 month upside price targets as it attacked monthly resistance (that stretches up to 64.14/CLG). That confirms its ‘3rd’ wave status and could allow for a culminating spike up to its monthly LHR at 66.80/CLG.
A 7 – 8 week low-low-low-low-(high) Cycle Progression could stretch Crude’s rally into late-Jan. – while still remaining in the parameters of a Jan. 2018 culminating peak.
Heating Oil has reached its initial multi-month upside objective, near 2.0700/HO, and has consolidated since then. A final spike high could take Heating Oil closer to its 2 – 3 year resistance at 2.2150 – 2.2625/HO.
A peak in Jan. would fulfill what has been the focus for the past 6 – 7 months.
Natural Gas resumed its advance after pulling back & twice neutralizing its daily uptrend. It continues to surge from 12 – 18 month support (~2.500/NG) – as it validates the potential for a sharp advance into Feb. 2018 – the convergence of multi-year cycles. At the very least, this rally should reach 3.4300/NG.”
Crude, Heating Oil & Unleaded Gas are fulfilling ongoing analysis for major advances from 3Q 2017 into January 2018 – when a decisive peak is ultimately expected. Crude is likely to attack its monthly extreme upside target for January – at 66.80/CLG. Natural Gas has triggered new buy signals and is expected to see a strong surge as well. Energy cycles portend additional upside into late-Jan./early-Feb. 2018.
See Weekly Re-Lay & INSIIDE Track for additional analysis and/or trading strategies.