CRUDE: If we analyse the above chart and Elliott wave count we are in blue wave v of red wave 3 of green wave 3. As this is impulsive decline see the prices are gradually reaching its target to complete give wave structure. blue wave iii finish on 14 dec, 2015 at 34.42 and wave iv corrected towards 37.85. Now we are in finall blue wave and the ideal target for this wave is near 33 area where we found support and fresh short term buyers will enter the market pushing the price in red wave 4 towards 37.50 are. once this red wave 4 finish the trend will resume towards 30 area.

muhiuddin