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In September 2018,
Everyone on 'the News' called for $100 Oil.
But;
The wave count called for an Oil Price Crash!
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On Tuesday October 2nd,
Crude oil was trading at $75.00 for the first time in 4 years.
Jim Cramer on CNBC said;
"don't let an overdeveloped sense of caution
trick you into missing these straightforward moves,
it could cost you!"
Sept 25th - Don't overthink—the oil rally is for real!
Bullish commentary on CNBC did not stop there!
Oct 1st - OPEC 'powerless to prevent' oil jumping toward $100 a barrel this year.
Oct 1st - "$100 a barrel oil now looks possible, if not inevitable" .
Oct 3rd - The oil market 'fever' pushing prices toward $100 won't break soon.
An over-bullish mania type behavior had gripped the market and the news.
But;
At the very same time;
My Elliott wave count quietly suggested a different future for Crude prices!
I knew a crash was coming soon!
On Oct 2nd,
I published this article;.
NO THIS IS NOT A NEW BULL MARKET IN CRUDE OIL!!
Prices were at a 4 year high, and the world was consumed with oil price fever!
But in that article I said;
"The scene is set for another horrible decline in the oil price,
the wave count says so,
and the futures market agrees!"
Heres a chart from that nights update:
The chart called for one more pop to the upside to above the 76.00 handle and then a crash!
Wave [4] was complete at that high,
And then came a 44% decline as predicted!
The very next day, on Oct 3rd,
the price rose into 76.72 at the top.
And then;
the oil price crashed by 44% into the December lows!
Exactly in line with the wave count!
The price reached a low on December 24th of $42.40 a barrel.
that makes a total fall of 3360 points in 11 weeks!
That's a hell of a long way off $100 a barrel, hey Mr Cramer?
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The news can never prepare you for a trend change!
But Bullwaves.org can.
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And see the next trend before it even begins.
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