A downside target at 28.810 remains my minimum price objective for the intermediate term, but a place to contemplate aggressive bottom-fishing as well. More immediately, you could try getting long via camouflage near the 29.875 hidden midpoint support of the pattern shown. If it gets bashed, we be looking at more downside over the very near term to at least 29.520, the pivot’s ‘D’ sibling. Keep in mind that theoretical entry risk for this vehicle should never exceed $70 per contract. This implies that ‘camo’ trades will usually be initiated on charts of 5-minute degree or less. _______ UPDATE (22:25 p.m. EDT): The futures caught a tradable bounce from 29.550, three cents above the pivot, but it proved fleeting. The subsequent relapse down to an intraday low of 29.135 has further shortened the odds that 28.810 will be reached. Bottom-fishing will be warranted there, and you should start looking for the turn from around 28.835. Camouflage will be needed in order to hold theoretical risk on entry below $70 per contract.
