Midpoint support at 95.22 is now resistance, but also a place for traders to get short ahead of an expected $6 plunge to 91.62 (see inset). Camouflageurs should look for the opportunity on charts of 5-minute degree or less, keeping in mind that, for this vehicle, patterns on the intraday charts tend to hit their Hidden Pivot ‘marks’ within about 20 cents. _______ UPDATE (November 6, 11:16 p.m. EST): Yesterday’s surge turned the hourly chart bullish, although the 91.62 target will remain valid in theory all the way up to 98.83. In practice, however, if buyers can push this erstwhile cinder block above 96.65 soon, it would turn $100 ‘magnetic’.
