Crude Oil at an interesting point

I think Crude oil has a good correction but is greatly affected by the fundamentals.

From the trends as I mentioned in the chart, its seems to has finished a healthy correction and will launch high soon.

I will wait a bit to open a new position as it may go till 45 mark but looking at the big picture, its bullish for me.

Will wait and see

Best of luck.

Comment:

Need more patience till the completion of the correction phase.
I think it will go till 45.50

Trade active:

After almost touching the 45.5 point, We are on our way Up.
Its going according to the plan.
I think we will be seeing a new high.
The perfect entry point for this was around 46. I have missed it :(
But i wont be entering at this point as it will be too risky.
Hopefully some of you have got the high wave.

Comment:

Look out for a retracement at 48.40 point. Its a strong resistance point.
If you have a big position then better to sell out and buy again at the lower point which will be around 47.5 point
Best of luck

Comment:

We are at a tricky price point now-
Be very careful
I have closed half of the position now
Will wait to see if the retracement take place

Trade closed: target reached:

Closed 25 % more.
Moved the stoploss of the rest to breakeven.
This trade setup is almost complete
Hope you have made some money :)

Comment:

I have been talking about this fall for a while now :)
It presented a great buying oppurtunity now
I will be making a new chart for it soon :)