Can Oil Regain the $100's?

Oil made an attempt at higher levels, hitting both of our targets at $100 then $101 before retracing back to the $90's. The Kovach OBV is gradually trending upward, so we are seeing a bull bias. But the $100's seem to be a hard upper bound for now. Currently, we are seeing good support around $95.24, a familiar level. We may also be seeing a bull wedge forming. Together, this suggests we may be making another attempt at higher levels. We will need to clear $100 and $101 before considering higher levels, the next target being $106. If we retrace further, then $92.03, and $90.06 should provide support.