We attach our own Monthly chart for WTI crude (updated on Oct 26, 2012).
If we notice above chart we can see in May 2010 after making a low of around $70 and over the next 1 year rallying to $115 in May 2011 crude has been consolidating in a triangle giving higher lows and lower highs. Breakout from this triangle will decide next trend but given our personal bullish outlook for risk assets we remain optimistic on Crude.
Note: We could be 100% wrong in above view. Make your own judgement.
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It is a well executed post. I like the diagram most. It is a helpful informative post. Thanks for sharing this great information.
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