I’m not much for head-and-shoulder patterns because they are everywhere the amateur chartist wants to see them.  That said, the one that crude has been tracing out this year is a humdinger, and it looks as though it could descend at least one more level, to around 94, before some serious base-building begins.  Traders using the Hidden Pivot Method don’t necessarily have to hold a bearish bias, however, since it’s possible to initiate a long position at any time and with relatively little risk by jumping on uptrending abc patterns on the very lesser charts.  If a countertend opportunity does await us, I should think it would occur following a breakdown beneath last May’s 95.59 low. Just about everyone would be bearish at that point, but it could prove to be the shakeout that lightens the load for a decent bounce. Meanwhile, the 15-minute chart suggests still-lower prices impend over the near term, possibly after a brief rally for the sake of symmetry.  Maybe not, though, since the short-squeeze rally from yesterday’s 95.90 low chickened out an inch shy of exceeding a tiny external peak at 96.82 visible on the 15-minute chart. Not exactly a sign of robust health.