Oil Markets Fulfill Downside Targets

Oil Markets Fulfill Downside Targets
Mid-Feb. Cycle Low Taking Hold
2 – 3 Month Support Holding.

02/14/18 Weekly Re-Lay Alert:

“Crude Oil, Unleaded Gas & Heating Oil have dropped sharply since completing projected rallies into Jan. 2018.  Since then, they have fulfilled initial downside targets with Unleaded Gas & Heating Oil reaching their Dec. ’17 lows as Crude held support at the level of multiple (a series of 4) previous highs – resistance turned into support – at 58.27 – 58.66/CLJ.

With a ~2-month/~60-degree low-low-low-low Cycle Progression coming into play this week (Feb. 12 – 16), that increases the potential for a bounce from these levels.”

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Energy markets are fulfilling downside objectives and expected to set an intermediate low near current levels.  The weekly trend patterns are clarifying what to expected between now and late-March, when an ~8-week cycle projects the next important peak.  Natural Gas remains on track for an overall decline into April/May 2018.

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