Have we just completed Elliott wave 1 of a crude oil bull market which I would argue started in November 2021 with Pfizer vaccine news?? Others may say it started from June 2020 after the May 2020 crash low touching zero or below briefly.
I have a question for viewers if Elliott waves up to 5 does indeed play out again for oil (and commodities in general) how can one have any clue how much time this will take?
Please refer to March 1999 (just before dot com crash) through to June 2008 (onset of GFC) Brent crude oil price chart to see how Elliott waves 1, 3 & 5 up-moves happened with waves 2 & 4 corrections.
I have a question for viewers if Elliott waves up to 5 does indeed play out again for oil (and commodities in general) how can one have any clue how much time this will take?
Please refer to March 1999 (just before dot com crash) through to June 2008 (onset of GFC) Brent crude oil price chart to see how Elliott waves 1, 3 & 5 up-moves happened with waves 2 & 4 corrections.
Comment:
Correction: November 2020 vaccine news