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Offer extended through Friday (9/3).
Crude’s charts have been flagging for so long one might have forgotten that it’s in an uptrend. It is, though, and yesterday’s price action suggests it is not yet ready to break out for a run at $90, it’s next likely stop. If it were otherwise, the stab higher yesterday would have gone an extra two cents to exceed the external peak at 81.53 recorded on November 23. Pivoteers should note on the 60-minute chart that there are some small peaks near that one that could conceivably provide excellent camouflage for a long entry. FYI, you can try bottom-fishing the January contract at 77.79, stop 77. 70, day order. The relevant pattern is visible on the 5-minute chart. ______ UPDATE (77.20): The Hidden Pivot at 77.79 evinced no discernible support, so any attempt to bottom-fish there would have experienced a loss of around $90.
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