# CL breaks out with potential cup and handle pattern

> Crude oil futures break out of consolidation with cup and handle pattern targeting $110.6-$116.9.
- Title: CL breaks out with potential cup and handle pattern | Shortify
- Summary: Crude oil futures break out of consolidation with cup and handle pattern targeting $110.6-$116.9. Crude oil futures broke out of consolidation forming a cup…
- Keywords: nymex, cl1, cup and handle pattern, crude oil futures, tradingview, elliot wave, futures price, business, finance, breaks, potential, cup
- Source: TradingView — https://tradingview.com/chart/CL1!/FyBtn5Pd-CL-breaks-out-with-a-potential-cup-and-handle-pattern
- Published: 2026-10-23T19:18:35+00:00
- Read time: 1 min
- Topics: nymex, cl1, cup and handle pattern, crude oil futures, tradingview, elliot wave, futures price, business, finance
## Crude oil consolidation
Crude oil has been consolidating in the current week (19-22 October).
## Price breaks out of pattern
The crude price broke out of the consolidation on 23rd October (Friday) session with volume and momentum.
## Cup and handle pattern
The bull run that started on 6th October ($87) seems to have formed a cup and handle pattern.
## Price targets
The profits target of the cup and handle can be the 61.8% and 100% of the measured move at $110.6 and $116.9.
## Elliot wave pattern
Crude oil has been moving in an Elliot 5-wave pattern in a bullish rising channel since bottoming in early July.
## Key takeaway

Crude oil futures broke out of consolidation forming a cup and handle pattern with target prices at $110.6 and $116.9.