Oil is making a nice close here,watching the OIH,$XOI,nice orderely pullback keeping within the current uptrend.Setting up SU for that possible break higher.There is obviously some big money Oil guns holding this baby above $82.00.The more I look at the daily chart,the more I see a cup and handle formation here.I’d like to see some volume on the breakout over 83.00 and 83.36 if it comes into play.That should break the handle formation and propel this one higher.I also like the fact that todays low was lower than the prior two lows and the stock is setting up to close at the top of the range now making that pivot at 83.36 an even more likely trigger for a move higher.Keep in mind the EIA statistics come out tommorrow which will most likely show us confirmation of the direction coming.

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