CLJ11 – April Crude (Last:102.75)

A Hidden Pivot I’d flagged here yesterday at 102.40 caught a tradable low just four cents below it, at 102.36.  The bounce carried nearly a dollar, to 103.32, so there was time to take profits if you gutted out an initial pullback from 102.96  to within a penny of the low. Thursday night, a more impressive bounce was under way from Thursday’s bottom at 100.62.  It could get as far as 105.07, or even to 105.78, but first a midpoint resistance at 103.61 will have to be conquered.