Chart of the Week
By the symmetry of Elliott Wave Theory (EWT) a deep drop in the price of oil is projected to take place over the next six years or so. Of course, this chart could also be drawn with inflation adjusted data but if we are entering a period of debt deflation the inflation adjustments that would be applied to date (which would raise the curve already completed) will be offset to some extent by subtractions for any period in which deflation occurs. But, bottom line, if the debt deflation fundamentals play out, EWT projects that we will see much lower oil prices within a few years.
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