JT asked me for a 4 hour chart on crude oil, The above is an 8 hour chart (hope that's ok).
I'm still bullish on crude oil as long as support at 98.85 protects the downside. Ideally support between 100.65 - 101.20 will protect the downside for a break back above 102.35 confirming that the next impulsive rally higher is developing, Longer term I'm looking for a firm test of strong resistance at 110.71 and a close above here will call for a continuation higher towards 130.00. However, resistance at 110.71 has held firm about three years now and it will take allot to break it.
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