Crude oil appears to be showing the same devil-may-care obliviousness to events in the real world as the U.S. stock market. Yesterday, crude futures actually fell even though all hell was threatening to break loose in the Middle East. Hamas has stepped up its rocket attacks on Israel, launching 80 missiles from Gaza and warning that far worse was coming in retaliation for Israeli air strikes that killed seven terrorists. Those air strikes themselves were in retaliation for the murder of three Israeli teenagers by Hamas. The conflict could easily escalate to all-out war in the blink of an eye, and it’s not inconceivable that Hezbollah might get involved by shelling Israel from Lebanon. Under the circumstances, crude prices could spike at any moment. Traders should look for an entry opportunity on the hourly chart, triggered by any rally that surpasses two prior peaks without correcting. System-trading aside, you may be able to jump aboard at the right moment simply by watching the tape for still-more-threatening news from the Middle East.