US OIL expecting correction next few weeks targeting 56 to 57 . The reason is Crude is up against long term downtrend resistance line which is around 60 dollars.. Normally it is not easy to break Long term resistance down trend line in first attempt. Hence expecting correcting to touch the intermediate wedge bottom trend line around 56 to 57..
On a alternative view due to any fundamental reason if crude break 60 dollars ...crude does not have any resistance until 63.9 and might have parabolic wave...
This might trigger short term correction is possible in US500 and India Nifty stocks..
On a alternative view due to any fundamental reason if crude break 60 dollars ...crude does not have any resistance until 63.9 and might have parabolic wave...
This might trigger short term correction is possible in US500 and India Nifty stocks..