See the longer-term technical support and resistance levels on the chart. From a critical, Fibonacci perspective, the 50% retracement level of the price move from the all-time high of $147.27 scored in July of 2008, to the low of $33.20 scored in January of 2009, comes in right around the $90 level. If crude oil does continue to trend higher in the coming weeks, then the bulls will target $90 as their next major upside technical objective. If the U.S. dollar index continues to trend higher, then the uptrend in crude-oil futures will likely not be sustainable.
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