CLV12 – October Crude Oil (Last:99.67)

The hourly chart leaves little doubt that this rally cycle will hit 104.93 over the near term. With $5 of upside potential from here, our trading bias should be aggressively bullish. However, if and when the 104.93 pivot is  reached, it will be a compelling spot to attempt getting short via camouflage. (We use this tactic here because, when trading crude oil futures in particular, even gorgeous patterns like the one shown need at least 21 cents of leeway relative to ‘D’ targets.)