Crude Oil Continues to Rocket...
Now that nearby NYMEX crude oil has climbed into my next optimal-target zone of $105-$106, what's next?
Purely from a technical perspective, my intermediate-term pattern and momentum work confirms the strength, which warns us to expect still higher-highs.
My minimum-target zone is $107.00/40, while my "outlier" target zone is a run towards $112.80-$114.40.
Only a decline and close beneath $103.50 will trigger preliminary reversal signals, while a break of $102.20 is needed to confirm that the upmove is over, and that a correction already is in progress.