MCX Crude: To surge till 4200-4300

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As shown in the daily chart, prices continue to protect its previous low. As far as previous lows are protected, higher highs and higher lows are on its way. The bias as of now is positive and it is set to cross its previous high of 4030 levels. 

Before crossing 4042 prices need to protect the level of 3822, any break below this level will open negative possibilities which can drag prices lower.

 Daily Waves suggest, minor waves wave a and wave b of wave e which is a three wave structure is completed which means wave c of wave e is pending up which may or may not test its trend line resistance. The immediate resistance will be at 4200-4300 levels.

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