Oil Facing Resistance at $90

Oil has edged higher towards the $90's. We still haven't quite been able to break that threshold just yet, with a rejection just now at the time of this writing just below our level at $90.06. We are seeing red triangles on the KRI at this level. The Kovach OBV has picked up, so we will see if momentum can break us into the $90's, but so far $90.06 is a barrier. If we can break through, then the next target is $92.03. If we retrace, then we should have support again from $85.55.