Crude looks like ready for decent correction
From its bottom of 2839 till 3280 a 5 wave move almost complete
Now coming to Daily chart
Crude is in a formation of Broadening wedge type pattern
In this it already completed wave iv & last wave V may began which can take Crude towards 2600-2700 range again.
Above 3340 this pattern invalid. So risk is of only 60 points with reward of 500+++ points
Holding period 1 month
From its bottom of 2839 till 3280 a 5 wave move almost complete
Now coming to Daily chart
Crude is in a formation of Broadening wedge type pattern
In this it already completed wave iv & last wave V may began which can take Crude towards 2600-2700 range again.
Above 3340 this pattern invalid. So risk is of only 60 points with reward of 500+++ points
Holding period 1 month
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