Sunday, October 28, 2012
Crude Monthly Chart - Oct 2012
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.