Oil Advance into Jan. ’18 On Track!
Oil Advance into Jan. ’18 On Track!
Dec. ’17 Could Time Initial Peak.
Middle East & Weather Outlook Agree.
11/04/17 Weekly Re-Lay:
“Crude Oil, Unleaded Gas & Heating Oil fulfilled analysis for rallies into late-month, with Unleaded Gas & Heating Oil reinforcing their intra-year uptrends and recently completing Intra-Year V Reversals higher. That projects additional upside into late-year.
All of these markets remain on track for potential rallies into early-Dec. with an initial high possible in early-Nov.
Dec. Heating Oil & Unleaded Gas continue to hit their highest levels since 3Q 2015 – a period of over two years – while reinforcing their intra-year uptrends. A 40 – 41 day low-low-high-(high) Cycle Progression – particularly in those two markets – could produce an initial peak on Nov. 6.
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.
As explained before, Unleaded Gas & Heating Oil have related analysis that could extend their gains into January 2018.”
The Energy complex is reinforcing mid-year buy signals in Unleaded Gas & Heating Oil – suggesting the first half of Winter could be challenging. Crude Oil is fulfilling analysis for the latest advance from early-Oct. into Nov. 8 – 13 as part of larger, overall advance into early-Dec…. and then ultimately into Jan. 2018. Middle East events could coincide.
See Weekly Re-Lay & INSIIDE Track for additional analysis and/or trading strategies.