Crude had been crashing all the way from the highs of 4500 to the lows made near 1717
levels 18 th March 2020.
Although the majority of the fall is again attributed to the Corona Virus which is absurd
and irrational but it does not warrant for crash in Crude prices by more than 25% recently.But look at the below chart and the systematic down move post breaking its major support
Do you still think Crude movement is driven by news or events? I agree that short term
spikes and moves can be a result of any event but the major trend eventually resumes.
Look below the chart and detailed research on MCX Crude taken from our Monthly
research report – “The Financial Waves Monthly update”
MCX Crude Daily Charts (Anticipated on 11th March 2020)
MCX Crude Daily Chart : (Happened so far)
(Below is the extract of research from the Monthly report published in “The Financial
Waves Monthly update”)
Wave perspective: On the weekly basis, it seems that the correction that started in 2008
is still not over and the rise seen in 2016 – 2019 was only wave X. The next set of
downside correction has started and prices are now in wave (c). The next major
support for Crude is now at 1900 levels but fast moving emotional markets do not
respect major levels. So, keep a close watch near that support zone and if the same gets
broken or not. On upside there is a no resistance as it was a free fall and one should
avoid catching a low in Crude for now until the Time cycles low is confirmed.
In short, Oil war is going to take more heat in coming days and months. Avoid catching a
low in this energy base and even if there are sharp reversals use that to be placed in
direction of the downtrend which is firmly negative. We think prices should move
towards 1900 or lower levels and we are not even trying to scare by projecting wave
A of 2008 to that of current fall, but will not be surprised to see insanely low
readings on Crude! Be prepared!!!
So in the upcoming Online Master of Waves (MOW) which will ensure you can learn right
from the basic to advanced Elliott and Neo wave patterns and Time Cycles. You can simply
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