Crude, Unleaded Gas & Natural Gas Cycles Bottom; Project 3Q ’23 Surges!
06-03-23 – “Crude Oil, Unleaded Gas & Heating Oil have consolidated after plunging from cycle highs on April 10 – 14 ‘23 – fulfilling an ~11-week high-high-high-(high) Cycle Progression and related 22-week & ~44-week Cycle Progressions as well as a ~76-day high-high-high-(high) Cycle Progression in the XOI. The next phase comes into play in late-June/early-July ’23…
The way in which Crude recently set a double bottom (March & May ’23 lows) is ushering in the potential for a multi-month bottom and the start of a new 2 – 3 month rally… that is expected to ultimately peak in 3Q ’23.
After their initial rallies, Crude and Unleaded Gas sold off and twice neutralized their daily uptrends… preparing to enter new advances.
Natural Gas turned its daily trend back down after initially surging to its monthly LHR and peaking on May 19. It would not show signs of a new rally until a daily close above 2.560/NGU. It is poised to set 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.”
Energy markets are entering the time when they should begin multi-month surges as Crude and the products signal secondary lows while Natural Gas sets the stage for a Major bottom. 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 head into cycle lows and begin to embark on new advances… that should accelerate into Aug/Sept ’23.
Does this Have Anything to Do with Geopolitical Factors?
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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.