Background: Crude Oil made a high of 9996 during the Ukarine war which also marked the end of wave 3. This followed 4th wave with a flat correction (Marked as ABC) which finished at around 5290.
Current Scenario: We are in minor wave 3 of sub wave 3 of major wave 5 (shown on chart)
Trading Strategy: Buy on Dips. The entry, stop loss & target are mentioned on the chart
Current Scenario: We are in minor wave 3 of sub wave 3 of major wave 5 (shown on chart)
Trading Strategy: Buy on Dips. The entry, stop loss & target are mentioned on the chart
Comment:
Crude oil reached a low of 6345 (on MCX), testing our entry zone. For the last three trading sessions, it recovered quickly, indicating the third wave personality we had predicted. Let's observe if the wave 3 personality is sustained.