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Planets Taking it Easy
05/22/2020 9:47 am EST
Planetary activity is also taking a break next week but look for a low in crude oil on Wednesday, reports Susan Gidel.
Most of the planets are taking the Memorial Day week off, with very little happening in the sky. While the markets are closed for the holiday on Monday, Mars and Uranus make a minor, friendly aspect that supports idealistic action toward financial change. The only other planetary activity is that Mercury enters the sign of Cancer in Thursday afternoon, a downshift from leaving its ruling sign of Gemini.
Low in Crude Oil on Wednesday, May 27: The market’s natal Jupiter/Uranus conjunction is under pressure from two directions. Transiting Mars delivers the more intense pressure because it is exactly 90 degrees apart from Uranus. These two planets in “hard” aspect can create fireworks. Transiting Sun is within close range of being opposite the first-trade positions of Jupiter and Uranus, also suggesting a culmination. In the July crude oil contract, look for support at the planetary conversion levels of $32.80 per barrel, then $29.23 and $28.48.
Can you help me find Brent crude first-trade data? I’d like to switch my ongoing analysis to ICE Brent crude oil futures from WTI at NYMEX, but need a definitive first-trade date and time to conduct my astrological research before I do. All I know right now is that the current active Brent contract at ICE launched in London at the International Petroleum Exchange in June 1988. Many thanks in advance for any data or leads on where I might find Brent crude’s launch information. Please email firstname.lastname@example.org.
Last Week’s Scorecard (through Thursday’s close)
Pretty Darn Good
High in Gold on Wednesday, May 20: June gold peaked at $1,757.60 per oz., then dropped as much as $42 on Thursday, closing $30.20 lower at $1,721.90. A higher peak occurred on Monday, May 18 at $1,775.80. Both tops respected the planetary price conversion resistance levels of $1,783 and $1761. The Sun’s conversion level of $1719 held Thursday’s break.
The position of planets in the sky as they relate to their positions when a market first began trading can provide clues to potential trend changes. The energy is strongest on the days noted in this post, but it is not unusual for the effect to be seen a day or two either side. See backgrounder “Market Analysis with Astrology” for further information.
Susan Gidel is editor of the Red Letter Trading Days newsletter.© Copyright 2020 SusanGSays LLC
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