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| Topic : Commodities - Technical Trend Analysis |
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After a meteoric rise of crude to 147$ in the year 2007....Crude crashed to low in the early January 2009..The same effect was seen on the Indian Commodities Crude market. In January 2009 MCX Crude made a lowest low of at 1626...and again in Mid February 2009. As seen in the current MCX Crude Future daily chart a triple bottom formation was seen
The triple bottom formation is a trend reversal pattern. As per the post pattern implications from then on MCX Futures firmed up and gave a rise, a bounce after a massive shake-out or fall...
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