Crude(30.9.2016) traded higher in last few session & broken the consolidation area with higher volume. After a consolidation period of 6 weeks crude made a double bottom pattern with 2 bullish candlestick in September month. Meanwhile OPEC production cut also boosted crude price while real action on production still has to come. Doors are open now for initial target around $49 followed by $51 area.
Tip => Buy crude as long as it stay above $47 mark for targeting area $47 followed by $51.