Soybean Oil Technical Analysis

The best argument from the naysayers of Elliott Wave theory as a market descriptor is the following statement: “the problem with using Elliott Wave is that you could have 3 separate analysts look at the same chart and they will come up with at least 3 different interpretations.” Certainly applying the Wave Principle can be more of an art than a science. However, this ambiguity can be a strength of the Wave Principle as opposed to a weakness.