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$- Essam Remark
Comment
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16th April2017
There was some typing error figures were 50$ instead of 40$ mentioned above only 47$ where rally started
Nice Chart Abhishek Sir, Once taken 52.6, downward rally may kick in
WaveTalks
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@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.