Market Structure Trumps Predictions in Crude Oil Analysis

The market for Crude Oil has been subject to much analysis and prediction in recent times. However, the author of this piece advocates for a different approach - focusing on market structure rather than predicting specific events or outcomes. In a previous analysis, published before the current bullish move, the author studied price behavior and identified signs of a change in wave personality.

According to the Elliott Wave Principle, structures often reveal themselves before major market movements occur. The author notes that an impulsive move, a correction, or a complex pattern each has its own unique personality. By analyzing this behavior, the bullish scenario became valid when price started developing an initial impulsive structure and respected key levels highlighted on the chart.

The important point to note is that the author did not predict a specific event or outcome, but rather presented a scenario based on the existing structure and allowed price action to confirm or invalidate it. Today, the same approach continues - focusing on market structure rather than being biased towards bullish or bearish outcomes.