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Rafael Palacio Arango
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Hi, I am Rafael Palacio Arango, and I am currently the president of Shamash Capital, a private investment corporation in its initial stage. I write posts about the markets as a way for me to keep up with my own research, and most of my writings reflect a position I am currently holding or... More
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Ideas&Co.
  • Oil Price Consolidation 0 comments
    Oct 23, 2012 5:15 PM

    (click to enlarge)

    I just wanted to take a moment to share this pattern that has been forming for sometime now. It is called a symmetrical triangle, and it is suggesting a climb in oil price, due to the trend direction. In addition, what it is really important, is that the pattern suggests a consolidation of oil price at about 86 dollars. Thus, we can expect oil prices to climb in the very near future. Nonetheless, this is only a technical perspective, and it is crucial to examine the geopolitical and economic factors.

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