It appears, at least for the time being, that OIL (CL) is attempting to break above its short-term resistance level located at around $50. If so, bulls should anticipate a run up to a much more important resistance level located just above $60. At the same time, OIL is just as likely to test major support.
In our premium section we discuss two very important levels in OIL and what breaking them would mean for the commodity. Most importantly, learn why OIL is likely to drive both bulls and bears up the wall for the foreseeable future. Which has been the case thus far.
To find out what OIL will do next and when, please Click Here.