CLK22 – May Crude (Last:102.73)

The rally has tacked on $15 a barrel since a Hidden Pivot support at at 93.07 nailed the bottom within 14 cents a week ago. Now, judging from the way in which buyers obliterated the 104.91 midpoint resistance last Thursday, the move is all but certain to achieve the 116.89 target of the reverse pattern shown in the inset. If it gets past that Hidden Pivot with ease, we’ll be looking at more upside to as high as 130.00 by the end of April or early May.  ______ UPDATE (Apr 20, 1:07 a.m.): A fall to x=98.92 would trigger a ‘mechanical’ buy with entry risk per contract of $6000 per contract, assuming  stop-loss at 92.92. _______ UPDATE (Apr 21, 11:38 p.m.): The mechanical buy triggered at 102.30, basis the June contract, and a subsequent rally to 104.32 could have been used to exit with a decent partial profit. If anyone is still on board, please let me know in the chat room so that I can determine whether to establish a tracking position.