August 28th, 2014
Published Daily

CLH12 – March Crude (Last:97.82)

by Rick Ackerman on November 29, 2011 3:55 am GMT

March Crude (CLH12) price chart with targetsWe’ve been using a 108.67 target for the December contract since, oh…forever, suffering the tedium of an intervening dirge that has not altered my bullish outlook. Shifting to the March futures, there’s a lesser target at 102.34 that may not survive this hours-old pullback, since it is just shy of invalidating the point ‘C’ low at 97.37. However, if the pattern survives, refreshing the bullish energy of the hourly chart and puncturing a 102.47 midpoint , we could look for more immediate upside to its sibling ‘D’ target, 109.65.  In any event, prospects over the next few weeks look quite bullish to me based on the breach 12 days of ago of a 102.81 peak recorded in July.  Click here if you’d like to learn more about the Hidden Pivot Method, including how to identify and trade targets such as the ones given above, and to forecast trends with bold confidence.

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