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Energy , Investing

Use This Method to Spot the NEXT Big Turn in Crude Oil

Here’s what Elliott waves showed for oil’s price well before the Saudi Arabia-Russia feud

by Bob Stokes
Updated: April 09, 2020

Most observers of the energy markets were surprised by the extent of crude oil's price slide in recent months. However, Elliott waves were flashing a warning (or opportunity, depending on how you look at it) long before.

As far back as August 2018, our monthly Elliott Wave Financial Forecast went against the prevailing sentiment for oil prices when it said:

A burst of media [crude oil] bullishness appeared on July 1, when one headline explained "Why Oil's Surge Is Far from Over, and $100 Per Barrell Could Be in the Cards." On July 6, a high-profile economist upped the ante to $150 a barrel. ... On Wednesday, another major Wall Street firm called for $120 oil. Lower oil prices are highly probable ... . [emphasis added]

Well, as you may know, crude prices indeed stayed well below $100 a barrel in the past year-and-a-half, much less $150.

Now, prices did climb somewhat higher for a short time after our August 2018 forecast, but then fell for much of the remainder of 2018... rebounded in early 2019... and then went broadly sideways for the rest of last year.

Last December, when crude was trading around $60, our U.S. Short Term Update predicted:

... the onset of the next far more serious decline in the oil market.

Well, as you know oil prices have dramatically plunged since, which you can see on this chart from our just-published April Elliott Wave Financial Forecast. Here's the commentary:


Since January of this year, oil futures have crashed 71%. If you want to see why, study the entire 100-year history of our oil market analysis in Chapter 22 of The Socionomic Theory of Finance, which predicted one last major plunge to new lows.

Note that even though the coronavirus and the feud between Saudi Arabia and Russia get most of the blame for oil's price plunge, Elliott waves helped us to alert subscribers to it well before these events.

Right now, our analysts are also applying the same method to other major financial markets, including stocks, bonds, gold, silver, the U.S. dollar and more.

See what Elliott waves show you for major U.S. financial markets next -- so you can anticipate, prepare and either step out of the way or take advantage of the big moves.

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Is Shiba Inu the New Dogecoin? Elliott Wave Analysis Offers Answers

Once you've created a meme-based digital currency, it seems easy to give it a "look alike" meme logo. Case-in-point, the logos of Shiba Inu and Dogecoin. Of course, creating a logos is easy... yet there's no "creating" a price trend. See what our Elliott Wave analysis has to say about what's next for Shiba Inu.