Related Topics
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:

OilPatch

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.

Follow the link below to start a 30-day risk-free trial of our flagship investor package.

EWI’s Analysts Anticipate. They Don’t React.

Have you noticed?

Most market prognosticators base their market forecasts on the news because they believe financial prices react to news.

EWI’s exhaustive research has proven otherwise!

Observations over the decades have shown that market prices are governed by Elliott waves, not exogenous causes.

This enables EWI’s analysts to anticipate.

Learn what our Elliott wave experts anticipate next for stocks, bonds, gold, silver, the U.S. dollar and more – with no obligation for 30 days.

Follow the link below to learn more.


Elliott Wave International’s Financial Forecast Service

All month long, FFS shows you the patterns in U.S. stock indexes, bonds, gold, silver, the U.S. dollar, as well as market psychology and cultural trends. We show you where the trend is now, and when prices should turn -- specifically, we show the pattern at multiple degrees of trend, with precise risk/reward calculations. If you have fewer surprises, you can be better prepared.

Here’s how it works:

 

1

Subscribe now and read the current issues within FFS.


 

2

Fine-tune your portfolio plan.


 

3

Relax. Watch the markets with your targets in mind.




Your Financial Forecast Service Team Helps Put YOU in Control of the Market’s Trends and Turns


Your Financial Forecast Service guides -- three of the best-known market analysts in the world:

  1. 1. Robert Prechter, Author of 16 market-related books, New York Times Best-Selling Author and Editor of Elliott Wave Theorist
  2. 2. Steven Hochberg, Editor of the Short Term Update and Co-editor of The Elliott Wave Financial Forecast
  3. 3. Peter Kendall, Author of The Mania Chronicles and Co-editor of The Elliott Wave Financial Forecast

As featured in:



Here's what you get with the Financial Forecast Service


Every Month

At the end of each month, you get a 30-60 day look ahead at the markets. Elliott Wave Financial Forecast lays out expected trends and turns in stocks, gold, USD and bonds.

Three Days Per Week

At market close every Monday, Wednesday, and Friday, you get the Short Term Update, alerting you to what’s changed and what’s upcoming in the next several days.

Latest Research

Every month, Robert Prechter sends you his latest research about waves of social mood in the markets in the Elliott Wave Theorist, so you always know the full picture.


You can be ready for risks and opportunities that catch most investors by surprise


Risk-Free, Start Your Subscription Now

$69

for 1 month of unparalleled market insights

U.S. Stocks: This Major Group of Investors is Sending a Signal

Heavy buying of U.S. stocks by this group of investors has usually served as an “excellent indicator.” A historical chart provides a case in point. Get the insights you need to know – and learn why these insights are relevant now.