In case of Crude oil the triangle turned out to be a second wave of the pullback. The pattern broke on the upside and formed wave c on the upside. Wave c almost attained equality with wave a and reached near 61.8% retracement mark. Daily MACD has reached the equilibrium line, thus has completed the pullback cycle. From hereon, the third leg down will begin and will unfold in a five wave manner. Initially the down wave will test the low of $70.76 and below that will target the equality ie $67. On the upside, high of wave c ie $78.1 is unlikely to get surpassed.


Today`s Free Power Level & Auto Buy Sell Chart

(Disclaimer: The above chart shown is for study purpose only and not for trading decision)

Currency & Comex Jobbing Range

Contact Form


Email *

Message *

Powered by Blogger.