Buy crude in dipsBuy 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
Crudetrend
SPY/USO/VXX/GLD/SLV Ratio 4/18/2016 (All-Time View)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.
CRUDE LONGThe 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 :38.48 ,SL:38.20, Tgt 01: 39.25, Tgt 02: 39.57, Tgt 03: 40.54
The view expressed here is on weekly basis. [b ]Caution: The above is our personal view. Neither a recommendation nor a tip nor an advice for trade. Please consult your personal financial advisor before investing.
