WTI's been bouncing around this 78 level lately; if it breaks and holds below, I'd consider the recent strength pretty much invalidated for now, and a retest of 75-76 would be on the cards.
It's interesting how closely it's been tracking that level. Do you think there's a specific catalyst that would cause it to break definitively one way or the other?
Interesting point about 78 being the invalidation level. What are you looking at specifically that makes that price point so significant for WTI's current strength?