Crude Oil has finally broken out of its 3 month consolidated pattern. Seasonally this is a bullish period for crude which further supports the price action on this chart. The break gapped away as most likely many traders were eyeing this trade. Bullish re-tests and retracements are the only ways to now get in to this trade. If this momentum continues we will see crude around 2010 highs of $114, this also coincides with a 2.0 fib extension of the consolidation breakout. Watch out for news announcements on CNN on the price of oil, the Iranian sanctions on UK and France oil exports will also have a major bearing on this continuing to the upside.