Oil continues run higher
WTI crude is up 2.7% as the rally extends above the December high of $54.55.
The real level that matters for oil is about $60. That's where oil companies start to invest and spend again but technically, the 38.2% retracement of the Oct-Dec fall is at $55.55 and the 50% retracement is just ahead of $60.
If we can hold above the December high through the close I like the upside.
