Chart for Trade Ideas:
CMP: 33.60
Support:27.54$
Resistance:50.91
If crude supported by 27.54, we will see more completed correction which is one of the wave 4 characteristic as per my knowledge. Also, we have done minium upside retracement of (28.56) at 33.05. Next and normal retracement level of w4 would be 36.46.
Note:As per my analysis, this final down move (W5) is going end as an Ending Diagonal.
CMP: 33.60
Support:27.54$
Resistance:50.91
If crude supported by 27.54, we will see more completed correction which is one of the wave 4 characteristic as per my knowledge. Also, we have done minium upside retracement of (28.56) at 33.05. Next and normal retracement level of w4 would be 36.46.
Note:As per my analysis, this final down move (W5) is going end as an Ending Diagonal.
