What Does Plunging Oil Mean for 2019 Cycles (Market AND Geopolitical)?
What Does Plunging Oil Mean for 2019 Cycles (Market AND Geopolitical)?
11/13/18 INSIIDE Track Intra-Month Update: “Crude Oil, Unleaded Gas & Heating Oil continue to plunge since peaking in early-Oct. while perpetuating a 32 – 34 week low-low-low-(high) Cycle Progression in Crude.
That peak also provided the fulfillment to yearly cycles (a ~5-year high-high-high Cycle Progression was forecast to produce a 6 – 12 month peak in 3Q 2018) and the 2018 outlook for a trio of peaks in 2018 before a sharp sell-off (along with equity markets) into Oct./Nov. 2018.
Crude also peaked within two weeks of completing the ‘late-Sept. 2017 into late-Sept. 2018’ bull market that had been forecast to coincide with major Middle East cycles during that same period. Crude topped within 24 hours of the execution of Jamal Khashoggi, an event that has triggered an intensified Turkey/Saudi Arabia conflict while threatening to dethrone – or at least greatly diminish the powers of – the Saudi Crown Prince.
(Late-Sept. 2018 ushered in the 12 – 15 month period when multi-decade cycles in Turkey and Saudi Arabia portended a major shift.)
All of these factors came together in late-Sept./early-Oct. and coincided with 2-Year Cycle analysis in equity markets to usher in an extremely precarious and significantly bearish period in equities and energy – a period that is still playing out.
Crude and Unleaded Gas are retesting their 2018 lows (from Feb. 2018) – critical levels of 6 – 12 month support – as Heating Oil is retesting the high of its year-opening range. These markets have a ~40-week/~9-month low-low-low-(low) Cycle Progression that projects a bottom for Nov. xx – xx [reserved for subscribers]…
Natural Gas remains bullish and on course for an overall advance into mid-to-late-Dec. It surged to begin the month of November, reinforcing a breakout higher as it entered the parabolic phase of this ~10 – 11 month advance (90/10 Rule of Cycles).
It is moving in approximate 0.3000 ranges (2.85 – 3.15 – 3.45 – 3.75/NGZ) and could ultimately accelerate as high as ~5.0000/NG, based on its 1 – 2-year wave objective.”
Crude Oil has plummeted since peaking in early-Oct. while fulfilling multi-month, multi-quarter & multi-year cycle highs in/around Sept. 2018. The Energy complex is attacking critical 6 – 12 month support ushering in a decisive 1 – 3 day period. Natural Gas remains bullish and is projected to see a larger overall advance into mid-to-late-Dec. ’18 with ~5.000/NG remaining as the primary upside target for that phase of its advance.
Refer to latest Weekly Re-Lay & INSIIDE Track publications for additional details and/or related trading strategies.