After Trump pulled the US out of the JCPOA, oil ripped higher to test the 100% extension off the 2016 low -> Jan 2017 high. Will subsequent fallout from Trumps decision push oil through this resistance and into the key area of ~$76. Up there we have the 61.8% retrace off June 2014 -> Feb 2016 fall, and it has been a key pivot in price from all the way back in 06/07 and 11/12.