On Tuesday we noted that Oil was running into resistance at the 66.50 level.
Oil closed above the 66.50 level on Thursday. Another possible area for resistance is the day 39 high of 67.02. But with oil only on day 4 for its new daily cycle, oil should have the energy to break though this resistance level. With oil being in a daly uptrend, a break above the day 39 high should result in a trending move.