MCX Crude Positional View Down Move 18-Oct-2014

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.

MCX Crude Positional View 03-Sep-2014

As per my analysis,

 Down Move:
If crude restricted by 5838, down move targets are: 5610, 5581, 5537, 5459, 5349.

Up Move:
If crude supported by 5650, 5640, we can see upside retracements.

L1: 5695, 5722, 5745, 5766, 5783, 5838(100%).
L2: 5851, 5975, 6075, 6174, 6250, 6316, 6499(100%).

Sellers Stop Loss: 5840
Buyers Stop Loss: 5650/5635 Strict.

Now the possibilities are 70% Down   -  30%Up.

Will update my analysis, as the market moves on.