Buy crude in dips till 40.55 levels. Cmp of crude 41.75. we bullish in the crude for the above tgt of 50 and much more in days ahead. Avoid shorts and keep buying in dips till the blue line and expected tgt is the red ling
There is giant rising wedge forming. This ratio seems to indicate the aggregate perception of the US economy - the higher the better. As you can see in August 2015, there was a huge leg down which was unprecedented in this chart.
The reason why we feel CRUDE may Rise.
* On weekly basis it has just started moving up
* To Rise and come near 39.57 levels
* Stoch RSI (3,3,14,Close) is Rising.
* RSI (14,CLOSE) is Rising.
* CCI (20,CLOSE) is Sinking..
Keeping all the above indicators in view along with the chart pattern we expect it to Rise. Our Buy call shall be from Buy above...
