CrudeOil- 400+MCX Rally to end with H&S@43.77

NYMEX:CL1!   Light Crude Oil Futures
360 8
There is a head & shoulder pattern with head at 53.77 -neckline at 52.70$- Going below 52.70 - Can CrudeOil put a top to the upside rally with 53.77$ intact which started from 47$ in the update -Stretching in a final wave

Any upside move we shall look only above 53.40$ which is the right shoulder high.

Previous Update

Stretching in a final wave upside

Crudeoil- Bang on move -Slippery Oil bounces at 47$- Essam Remark
Comment: 16th April2017

There was some typing error figures were 50$ instead of 40$ mentioned above only 47$ where rally started
Trade active: 08:21 Hrs 17th April2017

Good Morning!

Last Price@52.72

Sorry for Typing Mistake - Heading of this post also carries 40$ (43.77 -to be precise) - instead of correct- 53.77$ at the head top.
Trade closed manually: 06:57 Hrs 20th April2017

Closing the post.

Last Price@50.75

Crude cracks down from 52.70 to 50.70

Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Nice Chart Abhishek Sir, Once taken 52.6, downward rally may kick in
@gulz, Yes, It can but we need fast move below 47$ to suggest that top@53.77$ is in place, otherwise there could be small down move & later it might cross 53.77$ for higher zone, which confirms only above 55$. If 55$ is crossed on upside then 63-65$ zone can be next attempt for Oil.
H&S in 30 min chart, very cine chart.
Thank you
@padiyaraa, Welcome
entered short at $53.3 Now much worrying about the geo political situation.
@ajayww2, Can we do anything about geo-political situation. By worrying can we change the outcome.
ajayww2 AbhishekHSinghCMT
OK Got it
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