econintersect.com
       
  

FREE NEWSLETTER: Econintersect sends a nightly newsletter highlighting news events of the day, and providing a summary of new articles posted on the website. Econintersect will not sell or pass your email address to others per our privacy policy. You can cancel this subscription at any time by selecting the unsubscribing link in the footer of each email.



posted on 17 July 2016

Case Study: Successfully Forecasting Crude Oil From 2014 To Today

from Elliott Wave International

March 31, 2014 was no time to issue a bearish forecast for crude oil - or so it appeared.

But that's exactly the scenario Elliott Wave International's founder Bob Prechter showed his subscribers in his monthly Elliott Wave Theorist.

In 2013, crude had broken above $100 per barrel. It stayed mostly above that price for several months into 2014. Conventional wisdom was bullish on crude oil.

Yet on March 31, 2014, Prechter showed his readers how the bullish sentiment was actually a strongly contrary indicator. The Daily Sentiment Index then stood at 91% bulls -- the most extreme bullish reading in the history of the indicator.

And, more importantly, Theorist charts showed subscribers why the bull run was near an end. The trend should turn soon.

"Markets cannot stand such a high level of optimism among commodity investors for long. Whatever happens to oil prices in coming weeks," said Prechter. "The outlook is for much lower prices."

Indeed -- just as Prechter said -- extreme optimism for crude oil did not stand for long.

The turn came less than three months later, in mid-June 2014. It wasn't just that crude stopped going up; it crashed.

Through January 2016, the price for a barrel of crude fell 70%.

All that said, here's what the chart below makes clear: The 2014 forecast was just one of many huge moves in crude in the past 10-plus years. See for yourself how Elliott Wave Theorist subscribers were ready.

Bob Prechter has a decades-long habit of defying expectations and forecasting major turning points. And the same approach that alerted subscribers to the turns in these markets is equally clear about the next big moves in their respective trends.


Unleash the power of the Wave Principle with this FREE Report

Much like a great sports play; to appreciate a great market forecast, you have to see it. In fact, we'd like to show you four -- S&P 500, Gold, Oil and Apple -- in a new report. You will see what can happen when Elliott analysis meets opportunity.

Now we're not asking you to attend a class in "good calls." In each of these four markets, the unfolding trends have (once again) reached critical junctures. You really, really want to see what we see, right now.

Get your report -- The Power of the Wave Principle -- FREE.

This article was syndicated by Elliott Wave International and was originally published under the headline Case Study: Successfully Forecasting Crude Oil from 2014 to Today.

>>>>> Scroll down to view and make comments <<<<<<

Click here for Historical News Post Listing










Make a Comment

Econintersect wants your comments, data and opinion on the articles posted. You can also comment using Facebook directly using he comment block below.




Econintersect Contributors


search_box

Print this page or create a PDF file of this page
Print Friendly and PDF


The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.


Take a look at what is going on inside of Econintersect.com
Main Home
Analysis Blog
Empty Rhetoric: On the Work of Deirdre McCloskey
Men Without Work
News Blog
What We Read Today 30 March 2017
February 2017 Median Household Income Up 1%
Hacker Kevin Mitnick On Password Managers And Online Safety
Third Estimate 4Q2016 GDP Revised Upward. Corporate Profits Up.
25 March 2017 Initial Unemployment Claims Rolling Average Again Worsens
Adjusting To An Imperfect Reality
Employers Wise To Tap Into Older Workers Waiting On Retirement
Infographic Of The Day: How Seven Types Of Global Megacities Stack Up
Early Headlines: Asia Stocks Down, Dollar Up, Gold, Oil Steady, Senate Takes Russia Probe, Income - Tale Of 2 Countries, London Off. Values Face Big Drop, Russia Cuts Oil, Border Wall In Mexico?, And More
Documentary Of The Week: America Before Columbus
American Doctors: The Prognosis Isn't Good
Brexit: 'Leave' Voters Showing Most Signs Of Doubt
Crumbling Comet? The Great Debate About Whether Rosetta Rock 67P Is Breaking Apart
Investing Blog
Investing.com Technical Summary 30 March 2017
Where In The World To Invest? A Search Of The Globe
Opinion Blog
Scarborough Shoal: Will America Help The Philippines?
Why Did Preet Bharara Refuse To Drain The Wall Street Swamp?
Precious Metals Blog
Following The Yellow Brick Road
Live Markets
30Mar2017 Market Close: Wall Street Traded Mostly Sideways In The Green After Flat Opening, DOW Closes Up 69 Points, Daily Trend Moving Slightly Upward
Amazon Books & More






.... and keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government































 navigate econintersect.com

Blogs

Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day
Weather

Newspapers

Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government
     

RSS Feeds / Social Media

Combined Econintersect Feed
Google+
Facebook
Twitter
Digg

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution

Contact

About

  Top Economics Site

Investing.com Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2017 Econintersect LLC - all rights reserved