CLF23 – January Crude (Last:79.01)

Crude’s fright-mask squeeze last week would have made a tempting short if it had reached the green line (x=79.44). Alas, buyers quit at 77.75, sending the futures into a $3 dive on Friday to 74.29. The 67.74 downside target remains valid, and so our trading bias should be bearish as a new week begins.  Nudge me in the chat room if another fake rally hits x=79.44, and I may be able to provide timely guidance.______ UPDATE (Dec 22, 9:00 a.m.): See my posts in the chat room earlier this morning regarding timely and real-time trading opportunities in the February contract.