Oil- 1st Tranche is about to finish in 44.65-44.77 Zone

NYMEX_MINI:QM1!   E-mini Light Crude Oil Futures
Oil has bottomed in 4th wave@43$ as per my previous post


From lows@43$- It looks we have travelled the first tranche, which could finish in the zone 44.65-44.77 where the 5th wave at minor degree shall complete 61.8% of 1-3 wave distance.

As a good student of technical analysis- I still use my lessons seriously- one of the lessons I learnt few years back was never ever trade against the trend.

Here the trend is upside which has started from 43$ lows- so, It is always advisable only to buy your lots once it takes support in the zone 43.65-43.75 zone where this up move from 43$ to 44.75$ (Not fixed yet) shall be retraced 61.8%.

Any hint in that zone should be looked as buying opportunity- trust me, you will love to be with the trend because movement will be tension free.

Early the next week will be a holiday in India i.e. 5th Sep2016- shall join on 6th Sep2016- Till then, take care & enjoy.

Abhishek H. Singh, CMT
Trade active: 00:00 Hrs-IST-3rd Sep2016- In callout box - There is a typing error of 0.618%- it should be 61.8%.

Regards, Abhishek
Trade active: 12:38 Hrs-IST-3rd Sep2016- Slips - Slips - Oil Makes You Slip exactly from the zone 44.65-44.77- Yesterday, made session high@44.675. Vow

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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