“IS CRUDE HEADING FOR $75 ?”

Technical Analysis is all about reading the Patterns Correctly.

Clear Patterns gives decent money.

Let’s see what crude has to tell us !

Weekly chart – After a downtrend, Crude has made inverse Head & Shoulder Pattern at the bottom. Crude also completed its 4th wave inside the parallel channel and now started its 5th wave upwards. One more important thing to learn here is that Price is making Higher highs (HH) and Higher lows(HL) showing signal of a bullish Trend.

Monthly chart – If you see monthly time frame, There is a descending triangle formation on which crude has started its 5th wave upwards.

So after looking weekly and monthly chart Crude is giving bull signal for a short term Target of 56-58$ and above 58$ one can look for a target of $70-$75.

Crude Monthly Chart
Crude Weekly Chart
Disclaimer

I'm not a SEBI Registered Investment Advisor. Above Views are only for Educational Purpose. Equity, Commodity & Currency Trading has large potential rewards, but also Large Potential Risk. You must be aware of the risk and willing to accept them in order to invest in the markets. Don't trade with the money you can't afford to lose. This page is neither a solicitation nor an offer to acquire/sell any script. Please consult your financial advisor to take appropriate investments as per your risk profile. The past performance of any investments is not an indication for future returns.

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