Oil prices are attempting to mark a sixth-consecutive daily advance within a broader eight-week rally as the WTI breakout surges to fresh seven-year highs. While the broader outlook remains constructive, the immediate advance may be vulnerable in the days ahead as price stretches into confluent uptrend resistance. These are the updated targets and invalidation levels that matter on the oil price technical charts. {chart} Technical Outlook: In last month’s Crude Oil Price Outlook we noted that WTI was, “testing initial resistance targets and keeps the focus weighted to the topside while above the monthly open. From a ... (full story)