WTI +4% breaks 101.4: the September high at 106.75 is nextWTI CRUDE OILTVC:USOILForexupgoWTI is up about 4% today, trading around 103 as I write, with a high so far of 103.30. That takes it cleanly through the 19 October high at 101.37. My read of the daily chart: The lows tell the story. After the drop to 86.86 on 5 October, every pullback has been bought higher. The dip on 19 October stopped at 95.25, and from there it's been mostly up. I've drawn that rising line in yellow. It's steep, which is great while it lasts, but steep lines also break easily. Price is well above both moving averages, the 21-day near 94.1 and the 50-day near 92.4. Like Brent this morning, WTI is stretched: roughly 9-10% above its 21-day average. Levels on my chart: – 101.37: the 19 October high. It was resistance this week; now I'd want it to act as support on any pullback. – 106.75: the September high, and the top of the 60-day range. That's the big test. – The yellow trendline: if price closes back under it, the move is losing momentum. The rules-based question is the same as with Brent: are you a breakout trader or a pullback trader? A breakout system is long already. A pullback system waits for 101.4 to hold as support. Know which one you run before Monday's open. Not financial advice.