After consolidating for several weeks now, Oil is up and rising again…and this time could try to break higher and above resistance.
Looking at the oil futures (light sweet) contract itself, resistance is at $107. While volume leaves someting left to be desired on this most recent up-move since mid March, it does look healthy otherwise.
Price targets?: On the USO ETF I am targeting $44.50 and will add to the position on a move above $43.