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Will Crude oil touch 3648 before 2021?

free commodity crudeoil tips chart

free commodity crudeoil tips chart

Crude oil has started an Elliott wave and made the 4th wave, and now it’s making a fifth wave. As per the rules of the Elliott wave, the fifth wave will be completed at 61.8% (3648) or 50% (3600) of Fibonacci retracement 1+3.

The 2nd wave is 61.8% of the 1st wave, the 3rd wave is (more than) 261.8% of the 2nd wave, and The 4th wave is 38.2% of the 3rd wave.

After the completion of the fifth wave, there will be the ABC correction. And it would be completed between 3356 and 3216.

If the trend breaks the 3356 and 3216 both the levels, then the Elliott wave may fail. But if the trend completes the Elliott wave, the trend will again start to rise.

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Mr.Dev, has been in the forex and commodity markets since 1997. He’s one of the few non-biased investment advisors to have correctly called the current bull / bear market before it began and to have positioned his clients accordingly. As a result of his accurate forecasts on Indian commodity markets & currency, he is becoming increasingly more renowned. Mr.Dev has been quoted in many of the newspapers. He is a highly recommended technical analyst by many of the local financial newsletters and advisory services. He also is founder of commodity profit sharing service on Moneymunch.

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