As per wave structure wave 1 and wave 2 of bigger degree has been completed and now, possibly we are unfolding smaller degree wave 1 of bigger degree wave 3. It has given breakout with good intensity of volumes on hourly chart. Well, Overall crude oil is looking good to go long at these levels with stop loss of $ 85.70, for Targets of $ 90, 92, 93.70, 97.86, 100.71, and up to 105.
Breakout with good intensity of volume
MACD already positive and uptick and also above zero line on hourly time frame
MACD uptick and now positive crossing on daily time frame
RSI uptick on hourly time frame
RK's mass psychological cloud suggesting to Buy now or Buy on Dips (if any)
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Disclaimer. I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.
@angu012d, dear friend, thanks for writing us, there is always condition named stop-loss, which is a very important part of this game, and in this particular study also, we are having invalidation level at $ 85.70, Thanks