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CRUDE OIL - lets get a 4th wave ride

Long
CFDs on WTI Crude Oil (TVC:USOIL)  
TradingSutra Updated   
TVC:USOIL   CFDs on WTI Crude Oil
Wave Analysis Trend Analysis
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waveanalysis trendanalysis
After making a low of 19.21 $ , Crude oil is ready to give a retracement to ride for a 4th wave corrective pattern. Analysis is mentioned on the chart. One should Go long by keeping a stop loss below 21$ for a target zone of 26$ /29$ / 34 $ /36 $.
Comment:
The current situation tells that , sustaining below 21$ , it is still completing its wave 3 & chances of making new lows. As long as the recent low is maintained the chances for a bounce back is intact. As of now no trade if price hit the 21$ mark & sustained below. It will be reviewed later when it shows some strength.
Manish Bhardwaj (CMT L-1)
Analyst & Co-Founder
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