$CLQ25 – August Crude (Last:70.58)

Last night’s explosive move through the 70.82 midpoint Hidden Pivot of the pattern shown has removed any doubt its 86.51 target will be reached.  It seems improbable that there should be a lid on an energy market that is now on wartime footing, but that’s what the chart implies. However, if the move even slightly exceeds the target, and thence early April’s slightly higher ‘external’ peak at 87.63, a lurch toward the magnetic $100 mark would probably become inevitable. In any event, your trading bias should be aggressively bullish until such time as 86.51 is reached.

Leave a Comment