Oil Rallies, Smashing our Profit Targets!!

Oil has rallied significantly, smashing through our target of 90.06, and solidifying the 90 handle. We are within inches of our next target at 92.03, with a red triangle on the KRI confirming some resistance just below it. The Kovach OBV is ripping with this rally, demonstrating the incredible strength of this rally. Our next target of 95.24 is garnered from Fibonacci extension levels, because we have simply run out of technical levels at this point and are in new territory as far as our analysis with the product. We are well on our way to $100 oil, a price range we maintain will be hit by Q2.