CLJ12 – April Crude Oil (Last:107.58)

April Crude Oil (CLJ12) price chart with targetsThe chart is intended to refresh your memory concerning why crude remains a buy on weakness.  The target, basis the April futures, is 120.18, a Hidden Pivot that was first mentioned here in February as “magnetic.”  That is still the case, as is the implication that prices are unlikely to reach those levels without a push from some geopolitical crisis — presumably a pre-emptive strike against Iran.