We have a short term cup with handle forming and we are up over the $8.88 level again. This area is critical as we are forming the handle .We approached 9 today a good sign . Should we close above 9 a break out should be possible to at least fill the gap. Good luck.
fundamentals could be driving the chart. WB sweet sellinfg for ~$94/bbl now, the spread between it and WTI falling as well, now down to ~$8
those revenue forecasts from management in Jan, assuming $85/bbl? will be looking conservative if this keeps up- which it may, if the opening of the south leg of the keystone pipeline (started Jan 22, may not be even running at full capacity yet) is what is causing the rise. although could just be the winter weather too, guess we'll see in the next couple months
In any case, quite bullish to be testing resistance in the 9-ish area again so soon.