Friday’s rally from a technically compelling place brought the futures precisely to the 49.35 midpoint pivot shown. Although we should wait until the resistance has been exceeded before we assume more upside is coming to its ‘D’ sibling at 52.30, the shallow pullback thus far suggests bulls have the edge. Traders should use any minor, ABC pattern that occurs at or above the red line to get long, but if you prefer to use a ‘mechanical entry’ on a breakout above it, a 1.00-point stop-loss would apply from 49.40.
