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Crude Analysis: More Upside Steam Left

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Caution Ahead …Crude Oil sellers should wait for higher levels for new Short positions.

Crude Oil sellers

Technically if we see Crude Oil on the MCX Exchange, can see a rise towards 3875-3880 levels. At that range, we can see again Bears getting active again. 

If we discuss the LARGER picture, then last week, Crude Oil jumped back from the weekly support area.

The safe & new Buy-side position can be taken on holding above 3750 for the target of 3790/3830/3880 levels.

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About the Author

Divesh Jotwani is a Full-time trader in the Indian stock market. He has spent over 20+ years researching and discovering WD Gann's methods and applying them day in and out markets.