The minor bullish pattern shown has the potential to push the September futures to within pitching-wedge distance of two ‘external’ peaks on the hourly chart. The implication is that a relatively modest thrust could generate the kind of robust impulse leg that will put the futures on-track for a test of June 3’s high at 152^19. Camouflageurs looking to get long will have three peaks to play the in-betweens, as well as numerous smaller peaks on charts of lesser degree. _____ UPDATE (June 17, 8:52 p.m. EDT): After peaking just three ticks from the 150^04 target shown in the chart, the futures have gapped lower Sunday night, denying us an opportunity to get short via camouflage or otherwise. No further action is suggested for now.
