Cloud taken together with , , and , Technicals collectively is mixed. suggests strong momentum after breaking resistance on histogram. has more room for up, but if pullback does occur, expect bounce on . has been high since March which would suggest to me that a pullback is imminent, although admittedly, I don't know enough about to be confident in that analysis. in 2015, trended basically maxed out until July. We may see the same again here.
Fundamentals of supply glut should bring this back down. As price increases, producers are incentivized to increase production, which would again shift the supply/demand curve. This increase could be due to summer in the Northern Hemisphere increasing demand, but that is unlikely to be the only reason for this rally.
Overall, this suggests continuation should price close in the cloud and above $51. However, price has bounced almost 100% since lows in February.
go check out lowstrife's analysis, it's boss
getting close to neckline again
a daily close above neckline would definitely suggest higher highs to ~60