CRUDE

Hello and welcome to this analysis

UKOIL formed a Bullish Harmonic Gartley near $83.50 in weekly time frame and reversed from there. In the last few weeks after its 1st round of reversal from the Gartley PRZ it has formed a Cup pattern (rounding bottom) in daily time frame indicating a breakout above $98.50 for $106.

While CRUDE OIL at MCX has formed an Inverse Head & Shoulder pattern in daily time frame indicating a breakout above 7700 for 8200 and 8800. The movement in MCX Crude will largely be impacted by US$-INR also, keep in mind that factor also.