it always possible to find similarities on different kind of charts, I have tried to compare different big move we had on WTI on the last 30y...
We can identify only 3 moves 85/86 07/08 & 14/15
What we are experiencing now is very similar to the move in 85/86, crude was trading down because of talks of surplus more than a big fall down in consumption or concern on the economy.
this chart could make us believe that we are maybe not too far from a bottom, could be interesting to monitor how Crude will act on the next few weeks...but the chart indicate that we can see $60 levels quite quickly.
Laurent
