Oil Rigs and Oil Risks: What’s Next for the “Boom-Bust” Cycle?
April 11, 2017 6:42 pm
The search for recoverable crude never stops. But, sometimes the search is more active than at other times — drilling for crude is immensely expensive and full of risk. Yet here’s what is especially relevant to our forecast: The search for crude is a collective activity. So it’s no surprise that the oil rig count reflects a textbook Elliott Wave pattern. See it for yourself on our unique chart.
The search for recoverable crude never stops. But, sometimes the search is more active than at other times — drilling for crude is immensely expensive and full of risk. Yet here’s what is especially relevant to our forecast: The search for crude is a collective activity. So it’s no surprise that the oil rig count reflects a textbook Elliott Wave pattern. See it for yourself on our unique chart.
http://www.elliottwave.com/Investor-Research/Global-Market-Perspective
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