CMP 61.45
As per my daily chart, we are in the final move on the upside.
Since Wave 3 was not done normal target of 161.8% of Wave 1, I expect this up move (wave 5) to be extended.
But as per wave 4 retracement crude has already done it's minimum retracement between 57.8-58.8.
Next retracement level is 67.3-68.
Now, as long as crude supported by 56$, I still expect to see 62.8, 63.8, 64.6, 67, 68$.
Any move below 56$, I am bearish and expecting 50/45/40/37$ positionally.
For any buy now sl is strict to 58.2$.
12:07 PM IST
Note: Still crude is trading inside the channel. 62.40, 62.85, 63 expected.
Let us see how this progresses.
TRADE AT YOUR RISK. READ DISCLAIMER BEFORE TAKING DECISION.
As per my daily chart, we are in the final move on the upside.
Since Wave 3 was not done normal target of 161.8% of Wave 1, I expect this up move (wave 5) to be extended.
But as per wave 4 retracement crude has already done it's minimum retracement between 57.8-58.8.
Next retracement level is 67.3-68.
Now, as long as crude supported by 56$, I still expect to see 62.8, 63.8, 64.6, 67, 68$.
Any move below 56$, I am bearish and expecting 50/45/40/37$ positionally.
For any buy now sl is strict to 58.2$.
12:07 PM IST
Note: Still crude is trading inside the channel. 62.40, 62.85, 63 expected.
Let us see how this progresses.
TRADE AT YOUR RISK. READ DISCLAIMER BEFORE TAKING DECISION.
