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OIL (QM1!)- Bottomed in 4th Wave at 46.57

OIL (QM1!)- Bottomed in 4th Wave at 46.57

Let Oil pull back in the range 47.20-47.40 with Stop slightly below 46.57 one can go long for targets 52.50-52.80 handle in the 5th Minor Wave from the Bottom@39.25 or wait for OIl to Cross above 49.35- which will confirm that 5th Wave has started -then look out for targets 52.50-52.80 Handle.

Regards,
Abhishek H.Singh, CMT