AbhishekHSinghCMT
Long

Oil- 1st Tranche is about to finish in 44.65-44.77 Zone

NYMEX_MINI:QM1!   E-MINI LIGHT CRUDE OIL FUTURES
337 2 14
Oil has bottomed in 4th wave@43$ as per my previous post



From lows@43$- It looks we have travelled the first tranche, which could finish in the zone 44.65-44.77 where the 5th wave at minor degree shall complete 61.8% of 1-3 wave distance.

As a good student of technical analysis- I still use my lessons seriously- one of the lessons I learnt few years back was never ever trade against the trend.

Here the trend is upside which has started from 43$ lows- so, It is always advisable only to buy your lots once it takes support in the zone 43.65-43.75 zone where this up move from 43$ to 44.75$ (Not fixed yet) shall be retraced 61.8%.

Any hint in that zone should be looked as buying opportunity- trust me, you will love to be with the trend because movement will be tension free.

Early the next week will be a holiday in India i.e. 5th Sep2016- shall join on 6th Sep2016- Till then, take care & enjoy.

Regards,
Abhishek             H. Singh, CMT

Comment: 23:55 Hrs-IST-2nd Sep2016- Typing Error in callout box shown on chart- it should be 61.8% - By mistake it is shown as 0.618%.
Comment: 00:15 Hrs- IST-3rd Sep2016- Vow look at the fall from the top@44.67 - I expected 44.65-44.75 zone.
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
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India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
yes u r right abhishek i see but unfortunately i bought positionally crude
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no issuses. I think we are heading upside -it will be strong move next week
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