Crashing oil is all over the news. Mainstream media tells us why the oil fell. And we keep hearing that it will continue to fall. But back in June all we heard was why the oil was destined for new highs. Why is the new so useless?
Because 99% of oil forecasts out there are based on so-called fundamentals. The same “fundamentals” that back in June, when oil cost $107 a barrel, promised even higher prices due to:
- The rising threat of Islamic State in Iraq
- Weak U.S. dollar and
- Strong U.S. job growth
Now that oil has fallen to $54, the same sources are giving you “reasons” why it should fall even more.
You can see what’s happening: Too many analysts simply extrapolate yesterday’s trend into tomorrow.
That’s like saying that because it’s sunny today, expect sun tomorrow, too. That’s not forecasting.
Elliott Wave International prides itself on being bold with its forecasts. They have just released a new report from their in-house Energy expert giving you a unique look at the trend in Crude.
Special Report: “Oil: What’s Next?”
EWI’s Chief Energy Analyst, Steve Craig, has lived the oil market for close to 30 years. In this free report, Steve shares his take on where oil has been — and where it’s going.
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One thought on “What is Next for Crude Oil?”
1) Inflation or Deflation?Bubbled priced items back down, but ilonatifn bringing them up again soon. I’d say the current situation is similar to stagflation. My salary has not increased enough to keep up with “non-core” inflated items…which is almost everything!2) Fed Rise or Fed Cut?I want a 1/4 RISE in the spring, but they will cut it a 1/43) Gold Up or Gold Down?Isn’t gold tied to oil? With oil leveling, gold should too.4) Stocks Up or Stocks Down?DOW up to 13,000 and then flat. Dumps as more Enron-ish book cooking scandals from Toll, etc come to light. And Ford just sux.5) Mortgage Rates Up or Mortgage Rates Down?Every week end for that last few the average 30-fix has gone up .02, much more to come.6) Dollar Up or Dollar Down?Dollar down, Chinese pissed. More NUKular power plants gift wrapped for the most powerful “communist” country on the planet.7) GDP Up or GDP Down?All BS, who cares?8) David Lereah Fired or David Lereah Resign?Figure head, who cares?9) Foreclosures Up or Foreclosures Down?WAAAAAAAAAAAAY UP10) Casey Jailed or Casey Free?All BS, who cares?
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