CLM10 – June Crude (Last:75.41)

There were short-term targets as high as 89.61 broached in the chat room, so let me weigh in with my favorite, from the 180-minute chart:  88.85, based on a one-off A at 80.03 recorded on March 26.   Long-term bulls will need to push the futures above 110.90 to hint that they’re gunning for new all-time highs in the $150 range, but on the daily chart it would take merely 90.11 to refresh the bullish impulse. ______ UPDATE (May 7):  The futures turned lower after topping at 87.15.  They subsequently breached a midpoint support at 74.65, but a close below it would imply more downside to as low as  71.10.