There was unfinished business at the end of yesterday’s pit session, the December contract having performed reasonably well when measured against our benchmarks. However, we should like to see a blast to 1705.00, and soon, before we break out the bubbly. That’s a tick above a look-to-the-left peak along the wall of a recent, steep decline, and its breach to the upside would turn the intraday charts, although not quite the hourly, impulsively bullish. (It is short-term neutral at the moment.) More immediately, night owls may be able to leverage the small ABC uptrend at the right-hand edge of the chart. It projects to 1673.20, subject to the interference of a midpoint pivot at 1653.40. Notice as well that an external peak at 1658.40 may prove usable for a ‘camo’ entry. The larger, bullish pattern justifying such action begins with the 1585.00 low notched on September 28.
