Oil Makes a Run for $90

As we have predicted, oil has made a run for $90. We came just shy of our level at $90.06, and have since retreated to the $87 handle. We appear to be finding support just above our level at $87.21. If this level caves, then $85.55 should provide support. The Kovach OBV is still quite strong so we will see if oil has enough in the tank for another run to $90.