As detailed here yesterday, the futures need to pop above a 30.885 peak recorded on January 3 to refresh the bull trend on the lesser charts. It’s currently 2:00 a.m. EST and the March contract has been easing lower for the last nine hours. The pullback has decisively exceeded a midpoint support at 30.140, implying more downside to its ‘d’ sibling, 29.930. Night owls can try bottom-fishing this Hidden Pivot with at 29.935 bid, stop 29.920. If the turn comes before the target is reached, the rally would become weakly impulsive on the two-minute chart with a print at 30.125. _______ UPDATE (10:49 a.m. EST): The target evinced no support whatsover, so anyone bottom-fishing as advised would have lost at least $75 on the trade. The eventual turn came from 29.635, a number for which I can find no technical rationale.
