Crude Oil is definitely not going lower

Sometime, one can learn very quickly that one has made a wrong call. Such was my call that crude oil was about to trend lower a few days ago (go here). With the new high of USD86 per barrel just recorded yesterday, I expect the uptrend for crude oil to continue. This should be bullish for Oil & Gas stocks (such as Kencana, Sapcres etc) but likely to be negative on the overall equity market.


Chart: Crude Oil's daily chart as at October 12 (courtesy of Supercharts by Omega Research)