The big story in Asia has been that China made a major breakthrough being able to extract gas from what people call “Flammable Ice” located under the South China Sea. This has been at the core of China’s insistence on controlling the area.This is an important future global energy supply and not merely a territorial power grab.
Flammable Ice is actually methane hydrates that hold vast reserves of natural gas. The biggest challenge has been the mining and extracting because they are located under the seabed. We are looking at anther major advancement in the expansion of energy reserves for the world.
We can see that 2015 was a Directional Change with the lowest annual closing followed by 2016, which was a Panic Cycle that did what it was supposed to do taking out the previous low and then the high of the previous session. We now have another Directional Change here in 2017 with volatility rising next year.