March Crude (40.30)

9097The futures look lower, bound for at least 38.39, a Hidden Pivot, but if they slip past it we should infer that a tradable turn from 38.13 is likely. You can bottom-fish either number with as tight a stop-loss as you please, but the lower pivot would be the more conservative place to try. Alternatively, it would take a print at 42.53 today to signal a likely reversal of the bear trend that has dominated since the January 26 top at 48.59.