I expect NYMEX crude to move upwards today. The targets are 103.23/103.25/103.74. If these levels resists we can see a down move towards 103, 102.81, 102.70, 102.55.
In my view Crude is in wave 2 correction which comprises of abc correction. In abc, a completed at 102.42. Now b wave is in progress. After the wave b correction is over, we can see big down move minimum 102.42.
Support: 102.42/98.74
Resistance: 104.50/104.98, 105.21
Let us see how this is going to unfold.
Buy Update: 10:30 am. IST: Achieved 103.23 made high 103.34.
In my view Crude is in wave 2 correction which comprises of abc correction. In abc, a completed at 102.42. Now b wave is in progress. After the wave b correction is over, we can see big down move minimum 102.42.
Support: 102.42/98.74
Resistance: 104.50/104.98, 105.21
Let us see how this is going to unfold.
Buy Update: 10:30 am. IST: Achieved 103.23 made high 103.34.
