June Crude (last: 53.20)

Look for Friday’s weakness to continue to at least 51.75, a Hidden Pivot target  that you could bottom-fish with an initial stop loss suited to your style, but no wider in any event than about 30 cents. If the trade goes in the black by 70-80 cents hang on, since the rally has high potential due to the power of the most recent impulse leg.  It went $10, exceeding no fewer than five prior peaks on the daily chart, three of them “external”. _______ UPDATE (10:52 a.m.):  Cancel the bid. This morning’s low missed our target by 11 cents, bouncing 36 cents so far from 51.86.  The target is still valid in theory, but our bottom-fishing edge has been compromised by a “natural” low that will attract support-and-resistance players and other hoi-polloi.