CLM10 – June Crude (Last:71.17)

Friday’s slippage beneath a Hidden Pivot midpoint support at 72.19 implies the futures could now fall to as low as 65.87 over the near term. That target will not be particularly useful for bottom-fishing, since it is too close to a “structural” support at 65.66 created last July. However, the two numbers taken together suggest a likely test, with quite bearish implications if the implied double support fails.