Crude Surge into Late-April Underway
Crude Surge into Late-April Underway.
04/14/18 Weekly Re-Lay:
“Crude Oil, Unleaded Gas & Heating Oil remain positive and are surging to new highs in line with weekly trend patterns and the overall 3 – 6 month outlook. This advance could carry them higher into late-April – a 90-degree cycle from their late-Jan. peaks.
In the ideal scenario, a high on April 26 would perpetuate a precise 30-degree high-high-high-(high) Cycle Progression that already created the highest daily close on Jan. 26 and ensuing intraday highs on Feb. 26 & Mar. 26.
Natural Gas did spike lower into April 9 – 13 – the latest phase of an 8-week high-low-low-low Cycle Progression and projected an ensuing 1 – 2 week rally. That is underway but more confirmation is needed.”
Energy markets are rallying after holding intermediate support – an advance that could have Crude and the products all surging to new highs. Watch the days leading into, and surrounding, April 19 (Date of Aggression) for corroborating action. This action is reinforcing the outlook for higher levels in 2Q & 3Q 2018 (see April 2018 INSIIDE Track for latest update) and setting the stage for a new advance. See Weekly Re-Lay & INSIIDE Track for additional analysis and/or trading strategies.