Understanding the trend and trading strategy on MCX Crude with application of Elliott wave and Channels on daily chart!
Energy is doing extremely well from medium term perspective. For Crude we continued to mention the bullish trend since July 2017. Below chart is taken from “The Commodity Waves Short Term Update”.
MCX Crude Nov 60 mins continuous chart:
(Part of research taken from Commodity report)
“In the last trading session Crude broke above 3550 level and closed on a positive note near 3590 levels.
As shown in 60 mins chart, Crude has witnessed strong buying which helped the prices to take out the upper channel resistance which suggests that the bias remains on the positive sign. As per wave perspective minor wave c is ongoing. One can use buy on dips strategy as long as 3520 followed by 3510 level is acting as a crucial support.
In short, Crude trend tends to be on positive side. Any dip towards … can be used as buying opportunity”
The above only shows a part from one of the latest research. But we have been bullish on this commodity for many days now and this has paid out extremely well.
Following are a few of the direct Crude Tips that we generated over past few days for our Commodity call subscribers:
MCX CRUDE NOV FUT BUY ABOVE 3619 SL 3589 TGT1 3634 TGT2 3664 Target Achieved
MCX CRUDE NOV FUT BUY ABOVE 3550 SL 3520 TGT1 3565 TGT2 3595 Target Achieved
MCX CRUDE NOV FUT BUY ABOVE 3438 SL 3408 TGT1 3453 TGT2 3483 Target Achieved
To know the important reversal areas for Gold, Silver, Copper and Crude, get access to “The Commodity Waves Short Term Update” which covers research based on Elliott wave and basic technical analysis. You might also want to look at Commodity tips for your daily trading. Register now for Commodity tips here