NeeravYadav
Long

Crude Oil a bull run is on the way

TVC:USOIL   WTI Crude Oil
74 0 2
As per this daily chart a 5-3 move is already complete up till the 39 level, now as per the Elliott Wave the progression should be 5-3-5 in both cases.(Case 1 : Impulse, Case 2 : Correction ), hence using the basic Fib. extension the target are
T1 - 64 mark (100%)
T2 - 70 (123.6%)
T3 - 80 (161.8%) Maximum in case of non extended wave.
SL - 42 (Should be trailed as the market moves in the upward direction)
Based on this analysis atleast the 64 mark should be achieved.
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