In this video from Robert Prechter, you'll learn how a team of oil market analysts anticipated every major price move since 1993 -- including crude's 75% crash in 2014-2015.
Oil prices exploded to big highs in 2000, 2006, 2008 and 2011. Each time, experts blamed supply & demand.
Oil prices plunged to deep lows in 1998, 2007, 2009 and 2016. Each time, experts (again) blamed supply & demand.
In truth, the supply/demand model failed to predict any of those dramatic turns in oil prices.
Is there a better model? Watch and see for yourself.
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Robert Prechter began his professional career in 1975 as a Technical Market Specialist with the Merrill Lynch Market Analysis Department in New York. He has been publishing The Elliott Wave Theorist since 1979 and is the president of Elliott Wave International. He is also founder of the Socionomics Institute, which studies social mood and its impact on social action, including the stock market and the economy.