Near Term Trend: Bullish
As of 1/12/18 close: $64.30
UPDATE: Last week, I suggested selling crude between $61.75 and $62.73 with stops above $63. I broke in mid-week to alert readers that resistance had been broken and that crude ran all the way up to very long-term resistance at $64.35.
Crude had another stellar week last week closing right at projected monthly upside target (one of two of them) at $64.35. A weekly close above $64.35 will likely lead to a move up to at least $67.38 (the projected ceiling if monthly closes / pivots are used instead of weekly ones).
I would be a seller of crude near $64.35 with stops on a weekly close above that level. If no stops, this is a longer-term short. Target $45.