ICOMDEX & MCX CRUDEOIL – Bigger Picture AnalysisICOMDEX CRUDE OIL
Timeframe: Monthly
It is the ICOMDEX monthly timeframe chart where the price has started a new impulsive cycle from the low of 1270. The price has broken out 20 & 50 Exponential moving averages. RSI is snowing bullish momentum with a 56.97 level.
Wave formation and Fibonac
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CRUDE OIL-Likely surge and a likely break outCRUDE OIL: Bullish pattern in crude oil ,likely rounding bottom pattern,Sharp reversal in RSI Stochastic indicates possibility FOR a break out towards 9500(MCX Crude).Crude holding above does not augur well for the market sentiments.
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Crude MCX analysis with EWOm Namah Shivay
With Limited data, we are trying to have a View on Crude MCX.
Wave 1 data is not complete in lower time frames. Interesting is if we consider this as an impulse down, then V goes to minus 1800 level which may not be possible. So the structure looks a flat structure.
So the impulse
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