Commodity-market round-ups highlighted crude’s move above $78 yesterday, but as far as I’m concerned it was a dud even before the futures reversed direction. On the hourly chart, the morning surge failed to clear even a single external peak on the hourly chart.  While this is not an explicit sign of weakness, it does suggest that crude is in no great hurry to break the $80 barrier this summer.  July’s move from the low $70s has been robust, but it would appear to have run its course.