June Crude somewhat exceeded a midpoint resistance at 54.13 (A=45.95 on March 16), hinting of more upside to its ‘D’ sibling at 59.20. If the target is reached, that would still leave the trend in the category of bear rally, since it would fall just a tad shy of an important peak at 59.68 recorded on January 6. Night owls might use a minor Hidden Pivot support at 53.89 to attempt bottom-fishing, but I’d risk no more than 7-8 cents on this one, since the support looks delicate.
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