This is pure science fiction, but it comes from a real wave count put out by Elliott Wave Internationl. (EWI) They start in 1859 and end up on a 4th wave in Millennium degree. I agree with the 1859 date, but very little else at this point. The 1859 high matches the 2002 low in this oil chart and oil would have to go below $20 to hit this price level again.
The big question is, "What are the 5 waves required to complete the one move in Millennium degree,". The answer is we need 5 waves up in the Submillennium degree, to complete the 5th wave in Millennium degree.
EWI has the 2008 peak as a Cycle degree peak, but this would make the 5th wave an extremely long one and completely removed from reality. Inhaling too much of the red dust of Mars can have the effect to create a wave count removed from reality.
What they don't realize is that the crude oil picture they are painting is an "EXTREMELY" bullish picture in the long run. It is a bigger bullish picture that is longer than the complete life span of oil on earth and then some. The main reason why, is that nobody is continuing the research to see what is reasonable for a wave count that will have a beginning and an end to it, Even though it still may be 89-144 years out.
Remember the whole world of wave analysis has been brainwashed with there SC degree top in 2008.
This is the idealized wave count created from a Millennium degree wave 4
base and at a minimum that specific wave count would require 5 waves up in Submillennium degree. Instead of only a Cycle degree run up to 2008 we have to make it a GSC degree run to 2008. Our present crash would be a GSC degree "ABC"crash with the last 5 waves in SC degree. "Impossible" you say, well you are right.
My wave counts are wave two based, with oil being in one SC degree pattern for its entire life span.