POSITIONAL DOWN MOVE VIEW
Crude already done 1000pts from my positional view given on 1-Aug-2014. It has done minimum targets. Now I expect next target as 4800-4700 before reversal. Let us wait and see.
Based on my Monthly chart,
Support: 1626
Resistance: 7784.
Retracement Levels are: 6335, 5438, 4707, 3983, 3440(70.7%).
My wave calculations are:
Wave A: 5640
Wave B: 6548
Expecting Wave C target as 4322.
Wave C will have 5 wave down move.
As per my analysis, crude has done my minimum downside targets at 4950 levels.
Now, If crude resisted by 5239/5224/5158,. we will see 4949 again.
And my downside targets: 4894, 4777/4707, 4488.
Crude already done 1000pts from my positional view given on 1-Aug-2014. It has done minimum targets. Now I expect next target as 4800-4700 before reversal. Let us wait and see.
Based on my Monthly chart,
Support: 1626
Resistance: 7784.
Retracement Levels are: 6335, 5438, 4707, 3983, 3440(70.7%).
My wave calculations are:
Wave A: 5640
Wave B: 6548
Expecting Wave C target as 4322.
Wave C will have 5 wave down move.
As per my analysis, crude has done my minimum downside targets at 4950 levels.
Now, If crude resisted by 5239/5224/5158,. we will see 4949 again.
And my downside targets: 4894, 4777/4707, 4488.
