Crude Oil Forecast UPDATE

I commence with my gratitude to The All-Knower

I have placed the chart on the left, just this late Friday on 03/05/11. I had stated that crude oil shall go higher to price marked by the red dot, which was the range of $106.50-$106.90 and then it shall pull back and/or consolidate. Today high was $106.90. After putting in the high just below $107.00, Crude Oil has pulled back about $3.00. Look for current pull-back support in the zone of $102.5-$103.9.
Future price targets are (or look for resistance offered at these levels) $108, $110.67, 112.40, 114.15. $118.55 shall be first very strong resistance.

Crude Oil Forecast UPDATE

I commence with my gratitude to The All-Knower

I had published this chart previously for Crude Oil. On said date, it was trading at $97.00, after pullback from a recent high at $102 range. Crude oil broke out as expected and last close on Friday was above $105. I foresee higher prices than current level, after another pull-back and/or consolidation, as shown on the chart.