Commodity: OIL [Technical Comment]

OIL looks as if the recent consolidation after testing key support at 92.58 will result in a rebound to initial resistance at 94.50. A breakout above 94.50 will not come easily, but a successful move will place 95.56 as the next level to watch. A failure to pass 95.56 should see it slide back to or very near the support at 93.64. (HP)