Crude oil rallied to another all-time high on Friday, July 11 – to $147.27 a barrel. But glance at the headlines, and it's hard to call the reasons analysts cite as the cause for the $5-rally as bullish news. However, from the standpoint of Elliott wave analysis, crude's rally makes sense, with or without the news. This free video explains why.
On Wednesday (May 21), crude oil futures closed above $133 for the first time in history. The spike was blamed on an "unexpected drop in U.S. stockpiles," among other factors. That's a perfectly good explanation – after the fact. But what if we told you that one analyst foresaw this week's rally in crude several days before it began – and without relying on the supply/demand fundamentals? Watch this free video clip.
Question: A militant attack on the Nigerian oil station happened on Sunday, May 4. The report projecting strong demand for oil from China came out on Tuesday, May 6. However, EWI's Energy Specialty Service made a bullish forecast for oil last Friday, May 2. How in the world did ESS know about those events two days in advance? Answer: It didn't...
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