Energy Outlook Bullish into Jan. ’18!

Energy Outlook Bullish into Jan. ’18!
Middle East & Weather Outlook Concur.
Dec. 2017 = Pivotal Period.

 

11/11/17 Weekly Re-Lay:

 

“Crude Oil, Unleaded Gas & Heating Oil extended their surges with Crude initially fulfilling the 1 – 2 month outlook for a surge from the Oct. 6 low into Nov. 8 – 13 – when a ~5-week cycle projects 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 could be in the making.  It has twice neutralized its daily uptrend and needs a daily close below 56.41/CLZ to reverse that trend down.

On a 3 – 6 month basis, Crude remains poised for an overall 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.

Unleaded Gas & Heating Oil remain relatively stronger than Crude as they reinforce their intra-year uptrends & continue to hit their highest levels since 3Q 2015.  This comes after completing Intra-Year V Reversals higher – which project additional upside into late-year.  Unleaded Gas is now retesting its May 2015 peak near 1.8500/RBZ.

As explained before, Unleaded Gas & Heating Oil have diverse cycles that could extend their gains into January 2018.”

 

The Energy complex is fulfilling mid-year buy signals in Unleaded Gas & Heating Oil that projected an overall advance into January 2018 – suggesting the first half of Winter could be challenging.  Crude Oil fulfilled analysis for an advance from early-Oct. into Nov. 8 – 13 as part of larger, overall advance into Dec. 2017…. and then ultimately into Jan. 2018.  OPEC has corroborated & Middle East events could collaborate.

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