Why we Won't See Lower Oil Prices

Oil has started to show signs of weakness at highs. We have smashed through to new relative highs coming just shy of our target of 87.21, where a red triangle on the KRI has confirmed a top. Currently we are forming a consolidation pattern, resembling a bull flag. We appear to be consolidating at 85.76, which was once our target. We are finding good support here, but in the event of a retracement, 84.75, 83.76, or 83.21 should hold. If another wave of momentum comes through, then 87.21 is the next target. The Kovach OBV is still strong, and there is nothing fundamental to go against this rally.