The rally from 31.61 to 47.54 is quite clear from analysis. The rally is a nice 53535 structure because the wave 4 retraced into wave 1. The wave 5 is a nice 33333 structure.
We can clear see how alternative rule plays here. The wave 2 is a regular . The wave 4 is a correction.
The wave 3 is an extended wave with 3-2 is a triangle correction and 3-4 is a regular which fits the alternative rule quite well.
We can compare the ew analysis with usoil continuous contract and ukoil continuous contract which are also very interesting.
Following will be the correction of this rally. The correction usually stops at previous wave 4 region.
We can sell when it retraces with
SL at 45.65.
TP1 is 41.97.
TP2 is 39.47.
Good luck for everyone!