Oil held the 53 dollar level which was also neckline from previous breakout and currently has broken out of short term wedge. If it could manage to continue to trade above the moving average and poke thru the 64 dollar level, then a re-test of the 76 dollars is probable in the next few months. Both RSI and MACD on the daily and weekly are good. If my thesis is wrong then a re -test of 53 is doable.