OIL INDIA Moving UpRetrace to the 50%
Following elliot wave, waiting for the next push up.
Check out volume as well at the end, picking up. Can see a move up from here.
OIL trade ideas
OIL | Long LevelsIt closed above 50% fibo levels but reversed from 321 which is also the price where either bulls/bears have got activated with full force. In Such situation for intraday traders they can long the position above 316 for first target as 321 or short below 314 for possible target of 312,308.
For positional traders they can initiate their long positions above 321, above which I am considering it to be super bullish, but one can book profits as per own risk & reward. Short term targets have been mentioned.
