Don't know about that... I would say that the 2008 price at $147 was due to speculation after CFTC allowed investments banks to "invest" in commodities.
It was the removal of the Glass–Steagall Act that changed it all.... the way I see it.
Computers are programmed by humans...they created new EW patterns but still readable.
It's a fascinating subject :D
Here's the Neely interview I was referring to: https://www.neowave.com/audiointerviews/20141013/transcript.pdf