US oil to climb into $106.36-$107.29 range
USO•US oil is expected to climb to $106.36-$107.29 per barrel, with support at $103.34 and a more aggressive channel target of $120.
1. Technical price targets
A channel technique and projection analysis point to a target range of $106.36-$107.29 per barrel. A break below support at $103.34 may trigger a fall to $101.54-$102.41. On the daily chart, oil may revisit its September 15 high of $106.75; a rising channel points to a more aggressive target of $120.
