Is Oil ready for a run higher??

NYMEX:CL1!   Light Crude Oil Futures
Crude oil is holding a higher level at 52.60 but buyers still have some work to do if price is to head higher through 55.00. Price pushed up out of its recent range between 52.60 and 53.60, only to find sellers step in below 54.90. We are now watching to see if the bulls can build a bid around the current levels that may take price up and through 54.90. Price is still very much news driven but the action is all about 'what you do not know' not 'what you know' thats already factored in to the action.

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