NYMEX Crude view 06-Dec-2014

CMP: 65.69
Resistance: 77.80/69.53/68.20

CRUDE MADE LOW 64.65. Now, the SHORT TRADE STOPPED. I expect some bounce back. So, better we can wait for clear view . But my positional view is still same on the SELL SIDE. But waiting for better entry.

I am waiting for clear view whether we are in wave 5 (3) DOWN or Wave c(4) UP. So, TRADE STOPPED.

STILL THIS VIEW IS VALID n WORKED WELL. BUT I SUPPOSE WE ARE NEARING BOTTOM OF WAVE 5 of WAVE 3. TRADE CAREFULLY. ENJOY SELLERS.



Variation 1
If crude resisted by 77.80, I expect to see 64.44 again. And more on the downside I expect, 63.05, 58.33, 57.53, 57.13, 53.77.

Variation 2
If crude resisted by 77.80, I expect 60.73, 60.23, 56.73.

Based on the above analyses, resistance is at 77.80. As long as 77.80 resists, Positionally, I expect
63.05, 60.73, 60.23, 58.33, 57.53, 57.13, 56.73, 53.77.


Based on my Hourly chart, If Crude resisted by 68.2, I expect to see 65.00, 63.80, 63.63, 62.43, 60.81.

As per this analysis, one can go short with strict stop at 68.5/70.00.

My ultimate targets on the downside are:
65.10-64.90, 63.85-63.60, 63.15-63.00, 62.6-62.40, 61-60.75.

My Positional Targets:
63.15-63.00, 58.7-58.3, 57.25-57.10, 54-53.70.

TRADE AT YOUR RISK. WATCH OR TRADE.