CLG24 – February Crude (Last:73.56)

Last week’s rally, which occurred almost entirely with a leap on Monday, brought the futures to within easy distance of testing my recommendation to short the green line (x=75.88) ‘mechanically’.  The textbook stop-loss would be just above the ‘C’ high at 79.57, implying nearly $15,000 of entry risk on four contracts. I will try to provide real-time guidance for this if there is strong interest in the chat room, but in any case we should be able to determine with a high degree of confidence whether the mini-bear market begun in late September from around 88 is over.