The Crude Bomb is still threatening to break the critical levels. On the weekly chart attached, you can see that, last week, it pushed to above $103. This is precisely the 62% level on the weekly scale. It then closed below $100. Now, on the last day of trading of the week, it is pushing higher and is too close to last week’s high. This critical level if breached can easily move to $123. Whether it will push through the 62% level? We will be able to know the answer in few hours. Remember the danger point is just under $1 away, when I am writing this analysis. Is the selling seen in NIFTY is an advance indication of that…? Do not know. Let us not speculate; but…tighten your seat belts and get ready to face the worse…The Crude Bomb is too close to get detonated…
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