A look-to-the-left peak at 36.680 (see inset) is analogous to one we’re using in Gold to determine whether the correction that has dominated since April is at an end. So that we’re not likely to be fooled by a half-hearted rally, let’s stipulate that the thrust that takes the December contract above the two peaks shown (see inset) be unpaused once the first at 35.700 is exceeded. More immediately, it’ll take a pop above 33.785 today to turn the minor trend bullish. Failing that, the futures would be vulnerable to a swoon down to 32.355, a Hidden Pivot support that can be bottom-fished with a stop-loss as tight as four ticks. This strategy will remain viable as long as 33.665 hasn’t been exceeded to the upside overnight.
