Resistance on crude oil comes in the form of a range from 49.21 - 49.63. If 49.63 is broken on a 240-minute basis (10am, 2pm, etc.), there's clear air up to $56 in our humble opinion. If $49.63 holds, however, a trip back down to $43.51 is likely. The broad equity market has been lifted by this recent strength in crude. It will be interesting to see if crude falters or not and if there's a corresponding effect on the S&P.