Crude looks bound for 76.13, a Hidden Pivot target that can be shorted with a stop-loss risking no more than 3-4 ticks. The gnarly pattern associated with this target looks like a winner to me, and that’s why I think we can get away with a stop-loss much tighter than the 21 (or so) cents this vehicle usually requires. If you are looking to catch a ride north, watch for camouflage opportunities on a pullback to around 74.36, the midpoint pivot associated with the rally target. _______ UPDATE: 75.69 is as high as the futures got on the last run-up. The target is still valid, though not quite as appealing, so I’ll recommend canceling the order.
