Short-Term Oil Elliott Wave Analysis
Published 14th March 2018
The correction isn’t over yet. The short-term oil Elliott wave structure continues to appear as a zig-zag correction. WTI oil probably traces out a B-wave triangle of minute degree as we publish this. The subsequent drop will most likely reach into April before the correction reaches a proper size in terms of time and space. Hence, we remain short-term bearish oil despite potential rallies, which may reshape the triangle c-wave.
Long-Term Oil Elliott Wave Analysis
Published 15th November 2017
Price action has been exciting over the past couple of decades. WTI increased 15-fold from its levels in the late 90’s and had two magnificent crashes thereafter. We see crude oil to behave further in a complex manner. Mid-term our Elliott wave analysis projects significant upside from the 2016 lows.
Long term there may be another few decades with crude oil in a trading range between $25 and $150. The sideways pattern makes also a fundamental sense in a time when electric cars are waiting for their breakthrough and gas or alternative fuels compete with crude oil as an energy source.