I usually try to comment on trading vehicles that have been garnering their fair share of discussion in the chat room, but there isn’t much to say about June Crude right now. It has been trending higher since mid-February, and there is a rally target of sorts at 59.92 that can serve as a minimum upside objective.  While that would eclipse an important peak  at 59.66 recorded at the very beginning of 2009, it would fall shy of a second at 61.33 whose defeat is needed to create a bullish impulse leg on the daily chart.  Bottom line, Crude’s tedious noodling since Christmas has the look of distribution rather than consolidation. A pop to 61.34 would radically change the picture, but for the time being, and unless 59.66 is exceeded to the upside,  the official bear market target will be 30.85, or 26.17 if any lower.