January Crude (47.75)

The downtrend has given us an ABC pattern with a single-bar ‘B’ and ‘C’, as well as two possible A’s that have been etched with equal delicacy. Bottom-line: Crude is likely headed south, to at least 44.71; or if any lower, to 43.58 (with an outside shot at 39.28 over the next 7-11 days). If you plan on bottom-fishing, please note that this vehicle usually requires stops of at least 20 cents — even when price targets are so exquisitely defined as the ones flagged above.