Friday, 9 October 2015

Curde Oil - PPP Pattern

Crude Oil as made a Pole & Pennant Pattern (PPP) before breaking out to start half mast move ....


                                                                     Daily chart

After 5 - wave decline crude has started zigzag move up in A-B-C fashion.

NYMEX crude after making bottom near 37.75 rallied to 46 - 47 and consolidated in the range forming a triangular pattern ....

On 6th October we anticipated an upside breakout in the form of C wave and PPP pattern ...

As anticipated Commodity has started it upward move from 3020 odd levels now trading around 3275 odd levels ...

Still the move can be sustained in near term .... To know where next resistance and support is and trade with objectivity ...


To Know more about Elliot Wave Counts and where probably markets are heading towards long,  intermediate and short term levels and which sectors to be in, educate yourself  with us from simple to advanced concepts contact us.



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Raju V Angadi Vishwanath, B.E., MS, CMT
Equity Technical Analyst

"Education is what remains after one has forgotten what he/she has learned in school"    - Ablert Einstein

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