As expected, crude oil broke through minor resistance at 116.64 and is now headed higher for resistance near 134.34 and likely closer to 159.94. This is in case we don't see a runaway rally in wave 5. If this rally turns into a runaway rally, then the 159.94 target will likely just be a temporary halt on the way higher to 200.
Support is now seen at 112.08 and solid support is seen at 108.64.
