Energy Markets Remain Bullish…

Energy Markets Remain Bullish…
Overall Advance into 1Q 2018 Projected.
Are Winter Challenges In Store?

 

11/25/17 Weekly Re-Lay:

 

“Crude Oil, Unleaded Gas & Heating Oil resumed their multi-month uptrends after providing an intervening 2-week period of consolidation.  As a result, Crude has now turned its intra-year trend up and completed an Intra-Year V Reversal higher – a combination of bullish confirmations that Unleaded Gas & Heating Oil provided several weeks ago.

After trading sideways from May/June 2016 into July/August 2017, Crude turned higher in Sept. 2017 and precisely fulfilled multi-year cycles turning bullish at that time.  That has led to a strong ~12-week surge that has Crude spiking to the highest levels since June – Aug. 2015 (depending on whether the Feb. contract or a continuous-contract chart is viewed).

That reinforces the 3 – 6 month outlook & the perceived likelihood for an overall advance into early-Dec. 2017 – the next phase of a 50-week high (Feb. 2015)–low (Jan. 2016)–high (Jan 2017)–high (mid-Dec. 2017) Cycle Sequence in Crude.

A 30-day low-high-(high) Cycle Progression projects a similar peak – around Dec. 8.  Unleaded Gas & Heating Oil (which has remained in a daily uptrend during this entire correction) have diverse cycles that could extend their final peaks into January 2018.  They are both back in daily & intra-month uptrends, projecting additional upside.”

 

The Energy outlook remains bullish into January 2018, strengthened & validated by mid-year buy signals in Unleaded Gas & Heating Oil.  This could be hinting that the first half of Winter is challenging… while also leaving open the potential for Middle East events in Nov. & Dec. 2017.

See Weekly Re-Lay & INSIIDE Track for additional analysis and/or trading strategies.