Are Oil Markets Nearing a Top as Natural Gas Signals a Bottom?
Are Oil Markets Nearing a Top as Natural Gas Signals a Bottom?
09/19/18 Weekly Re-Lay Alert: “Crude Oil, Unleaded Gas & Heating Oil are mixed with Crude rallying back to its highs – after testing and holding its weekly HLS without being able to turn its daily or intra-month trend down (in early-Sept.) – while the products remain sideways…
Natural Gas rallied sharply after setting its lowest daily close on Sept. 14. It turned its daily & intra-month trends up, signaling that the expected late-Sept. low could already be intact – arriving 1 – 2 weeks early. It needs to close higher on Thursday to validate that.”
Oil markets confirmed a multi-week low, set while Crude was testing its weekly extreme downside target (HLS). This is part of an expected topping phase with Crude in the midst of multi-month & multi-year cycles that project a significant peak in/around Sept. 2018 – coinciding with Middle East cycles that project a major shift surrounding late-Sept. ’18.
Natural Gas, in contrast, is fulfilling analysis for a multi-month low (and subsequent rally into mid-Dec. ’18) that arrived a couple weeks early. That underlying strength could be revealing important clues.
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.