Crude prices remain volatile and that is where the Canadian market will carry on from yesterday's gains.

Any corrective phase that will come in the near term could be a shallow one.

We will have carry through from yesterday. But after three days of strong gains, I think it will probably slow down a little bit.

The sector is meandering sideways.

Every time we have about three days of downtrend, you get one or two days of positive moves in the short trend.

We have a good short-term bounce here, but until we retest the 12,080 mark, we may see a bit of profit-taking coming in again because of the nervousness on the market.