Crude MCX analysis with EW

Om Namah Shivay

With Limited data, we are trying to have a View on Crude MCX.
Wave 1 data is not complete in lower time frames. Interesting is if we consider this as an impulse down, then V goes to minus 1800 level which may not be possible. So the structure looks a flat structure.

So the impulse down is invalid. And a flat structure is complete. A new structure is coming into place which is not clear now to predict. From MACD, it is clear that the structure is still in correction range.

Om Namah Shivay