Oil Markets Reinforcing Major Cycles…
Oil Markets Reinforcing Major Cycles…
4Q 2017 Should See Next Surge;
Middle East Cycles Corroborate.
09/30/17 Weekly Re-Lay:
“Crude Oil, Unleaded Gas & Heating Oil are powerfully confirming the 3 – 6 month & 1 – 2 year outlooks that called for a new bull market to begin to take hold in 3Q 2017. Crude has just fulfilled intermediate analysis for a rally into late-Sept. and up to ~53.00/CLZ (before a multi-week top becomes more likely).
At the same time, Unleaded Gas & Heating Oil exceeded their early-Jan. highs, completing Intra-Year V Reversals higher, but could not close above those highs – also portending a peak. As a result, an intermediate period of consolidation could now take hold.
Natural Gas turned its daily trend down after dropping from the upper end of its 3.5-month trading range and peaking while perpetuating a 19-week low-high-high-(high) Cycle Progression. This could lead to further weakness into early-Oct. when a multi-week low is more likely.”
Energy complex poised for new 2 – 4 week top in late-Sept. Daily/weekly cycles could produce new (ascending) low in early-October. Unleaded Gas & Heating Oil continue to confirm bullish outlook for 3Q/4Q 2017… potentially stretching into 1Q 2018.
Middle East cycles portend an uptick in conflict, steadily escalating into 3Q 2018 – the first phase of the overall 2018 – 2021 cycle that anticipates a seismic shift in the power structure of the Middle East, ultimately leading to some form of Union.
See Weekly Re-Lay & INSIIDE Track for additional analysis and/or trading strategies.