Yesterday’s short-squeeze popped crude from a consolidation zone with such force that we’ll need to raise our sights. Because the spike easily punctured a clear midpoint resistance, we should infer that the October contract is all but certain to reach the 116.46 ‘D’ target with which the p midpoint is associated. Night owls may be able to catch the next surge with a ‘camo’ entry near p, which at the moment, on the pullback so far, looks like a potential support. _______ UPDATE (September 18): That last pop went no higher than 112.24, raising the question of whether the hot mess of price bars since early July has been accumulation or distribution. My guess is that we’ll see higher highs (the 116.46 target is still valid in theory, by the way), but only after an even more protracted muddle. That said, we should watch closely for the first instance of an impulsively bearish bar on the daily chart, since that would be something that hasn’t occurred since April. _______ UPDATE (September 26, 1:40 a.m. EDT): The nearest downside target of significance is 103.23, so we’ll make that our minimum projection for the bear cycle begun at the end of August. It is a Hidden Pivot support and therefore tradable using the camouflage entry technique on charts of 5-minute degree or less. If you prefer initiating with a straight bid, which would be somewhat riskier, buy 103.26 with a 15-cent stop-loss. An easy breach of the support would portend a likely test of $100._______ UPDATE (October 1, 9:36 a.m. EDT): The calendar ran out on the October contract, but the downtrend has continued with the November futures and projects most immediately to 100.80, a Hidden Pivot midpoint. Any lower, though, and the 97.82 target shown would be in play. _______ UPDATE (October 28, 4:07 a.m. EDT): The 120-minute chart yields a correction target at 97.28 that is more compelling than the one reproduced here earlier. Subscribers who trade this vehicle should try to make hay on the prospective turn, since this looks like a high-odds spot for entry. _______ UPDATE (11:45 a.m. EDT): Apologies, for the November contract had stopped trading last Tuesday. The equivalent target for the December was 97.82, and it has been exceeded by a whopping 1.97. This means that even lower prices are coming, possibly because the economy is about to implode.