Crude downside move may soon complete

Neerav Yadav 50 Eyes Market Analysis

It looks like Crude is about to complete an Impulsive move to the downside which may be Wave C) of a Running Flat type of structure.

Daily

To strategize trades on the long side it would be best to wait for upside break of the parallel channel, after which we will look for a minimum move till the white Resistance Zone.

It is also worth noting that the last leg down seems to have formed an Expanding Ending Diagonal which is a bit of a rare pattern and preceded a change in trend.

Author

Neerav Yadav

50 Eyes Market Analysis

Neerav Yadav is a Futures trader who is in the markets since 2014 and trades primarily in Energy Futures, Gold, Indices, Stocks and other instruments.

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