The gnarly rally pattern shown in the chart is a very good one that meets all of our criteria, meaning its 18.055 target has the potential to provide us with valuable intelligence if and when it’s hit. If the futures bulldoze their way past it on first contact, that would strongly imply that buyers have the moxie to shoot for the cluster of highs near $19 recorded on election night. Many bulls would have gotten badly trapped up there, and that’s why the specific level should be regarded as crucially important resistance.  There is not much supply between $18 and $19, so expect a relatively quick move through that range if and when the futures bust past 18.055.  _______ UPDATE (Feb 13, 10:29 p.m. EST):  No change. Please note that there is an open trade on The Scoreboard that is currently showing an $11,000 paper gain. The wide-stop-loss just added to the post is intended to let subscribers who still hold the position swing for the fences. _______ UPDATE (Feb 14, 7:11 p.m.): The peak of today’s gyrations hit 18.090, just a hair shy of an old target at 18.115. If buyers can push above it on Wednesday, bulls can take encouragement. _______ UPDATE (Feb 15, 9:14 p.m.): Bulls continued to lollygag just beneath the 18.115 target. The good news is that the so-far shallow retracement probably has the bad guys — i.e., short sellers — on the ropes. _______ UPDATE (Feb 16, 8:46 p.m.): Another day of lollygagging, although the futures finally touched 18.115 for the first time in this recovery cycle. _______ UPDATE (Feb 22, 10:40 p.m.): Zzzzzzzz. No change.  ________ UPDATE (Feb 23, 4:00): 18.320 is the highest target I can project for the rally begun just before Xmas. I will now recommend exiting the position — a single contract remains — at a current level of around 18.160. We may be leaving some money on the table — perhaps $800 — but with a chance to cash out of the position for a $12,600 profit, it’s time to take the money and run.