CLN10 – July Crude (Last:74.85)

Crude has been rallying for the last week into the weight of a powerful downtrend that became manifest on the weekly chart in late May.  The rally projects to 78.08, but we shouldn’t be surprised if it sputters out somewhere beneath that Hidden Pivot.  I’d suggest trading it from the long side nonetheless, although the action was too squirrelly Monday to leave much in the way of handholds for night owls.