Oil Prices - The next leg up

[dan_s]

Looking at the chart for the February NYMEX contract it appears that a wedge has formed and the contract is poised for the next leg up. A move up to $95/bbl looks possible to me. What say you guys?

Dan

[setliff]

i use a continuous contract chart and while i don't see a wedge, i do see a cup and handle with a target of 97.