The so far $105 rally from Monday nights grotesquely oversold lows has yet to exceed even a single ‘external’ peak on the hourly chart, but we should expect no less if we’re going to warm to the idea that the worst is past. Most immediately, that would imply a pop to at least 1666.30 today. The chart shows why this would be significant from a Hidden Pivot perspective. Alternative, if the futures fall without rallying above 1640.00, the first place where we might expect a tradable bounce is at 1574.30, the midpoint pivot of the pattern shown.
