Energy Markets Bullish into Jan. ’18!

Energy Markets Bullish into Jan. ’18!
Middle East & Weather Cycles Coincide.
New Advance into Dec. 2017 Likely.

 

11/18/17 Weekly Re-Lay:

 

“Crude Oil, Unleaded Gas & Heating Oil reversed lower & corrected after perfectly fulfilling the 1 – 2 month outlook for a surge from the Oct. 6 low into Nov. 8 – 13 – when a ~5-week cycle projected a 1 – 2 week peak.

Crude spiked to new highs & then gave an outside-day/2 Close Reversal lower on Nov. 8 – after attacking its year-opening high – signaling that a top was in the making.  It has since reversed its daily trend down and was later joined by Unleaded Gas.

Heating Oil has not turned its daily trend down, neutralizing its daily uptrend twice and then bottoming.  It is likely to spike to new highs in the coming week.

While that is taking place, Crude & Unleaded Gas could provide divergent peaks (lower than previous highs) and remain in a corrective mode.

On an intermediate basis, there is still a good chance for this overall advance to resume in the second half of November and spur a rally into 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.

Unleaded Gas & Heating Oil remain stronger than Crude as they reinforce their intra-year uptrends after completing Intra-Year V Reversals higher.  Unleaded Gas retested its May 2015 peak near 1.8500/RBZ before correcting.

Unleaded Gas & Heating Oil have diverse cycles that could extend final peaks into January 2018.”

 

The Energy outlook remains bullish into January 2018, corroborated by mid-year buy signals in Unleaded Gas & Heating Oil and Crude Oil’s latest (early-Oct.) buy signal.  Watch weather & Middle East events in Nov. & Dec. 2017.

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