CLZ10 – December Crude Oil (Last:83.49)

December Crude Oil (CLZ10) price chart with targetsA decline to a Hidden Pivot support at 83.58 over the next couple of days should be viewed as an opportunity to bottom-fish with a stop-loss as tight as 10 cents. Camouflage aficionados should look to get short ahead of the decline if the futures rally to 84.67, the c-d midpoint of the pattern associated with our bottoming target. _______ UPDATE (9:43 a.m. ET):  Both the short and the long would have worked beautifully, since the futures topped at 84.74 — 7 cents from the midpoint support I’d flagged — before heading into the tank.  Along the way, they took a 41-cent bounce off an interim low at 83.56 that lay just two ticks beneath the hidden support I’d flagged.  Now, like just about everything else that is traded on some exchange, they are falling anew — bound, presumably, for an 82.47 HP support.  It too can be bottom-fished with an insanely tight stop-loss if yolu please.