Daily Crude Chart

The CRUDE chart right now is really taking my fancy!, There is alot of term oil over in the middle east and that normally plays havoc on the economy over there, but as a trader I love it, and I rub my hands together, as there is normally nice fluctuations on the market to profit from.

Right now is no different, and my analogy about the middle east problems is playing out again in the charts.

Take a look at crude at the moment, you can see that since the start of 2013 there has been an inverted head and shoulders pattern that has developed. We have broken the neckline only in the last few days, and there is a fair chance we are going to see higher prices in crude in the coming weeks. Especially if tensions over in the middle east escalate. This is an awesome chart to keep an eye on.

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