Crude Oil seems to be moving in an 3 Wave corrective structure.
Hence I expect it to achieve atleast T1 : 53.30
if further downside is seem then it can drop till T2 : 51.80
Even lower levels uptill 50.80 are possible but that is something we can only talk about later on. From a positional perspective this market is a buy on dips as I believe much more upside remains, positional traders should wait for the 3 Wave completion and then add on to there longs. I will update further as this market progresses.
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T1 achieved
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T2 achieved
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Went till the 4 th Wave of one lesser degree, exceeding all targets as expected. Closed.