I'M expecting it to break out of the channel in the following 2-3 weeks.
It is important for gold - finally it can show up some correction with the strengthening dollar.
The strong dollar will have no effect on oil though.
Target : 98-99.
I have no "religious" affinity with oil. I try to look at it for what it is, and despite the fact that I think over the long-term oil will be significantly higher, I don't see at this time how oil can remain at these levels. I have seen your previous charts showcasing (rightly so) bullish trades for WTI and energy stocks, but at this stage I would be cautiously bullish. As Bernard Baruch once said, "nobody ever lost money taking a profit."
I think oil will have 2 very good weeks now. The bull will kick the bears' teeth out again and again.
Watch what happened to gold. The party just began above the 200 EMA.