I’ve flagged Hidden Pivot targets as low as 51.60, which would become no worse than an even bet following two consecutive monthly closes below 85.54 (basis the NYMEX August contract). This picture shows how an interim low near 75 hardly seems far-fetched, even for someone not adept at reading charts. Although I usually tune out head-and-shoulder patterns because they are nearly everywhere one chooses to see them, this one is so pretty that it literally points the way down to a basing target near the April 17 low where the pattern began.  This implies that any rally should be shorted, presumably at a midpoint Hidden Pivot resistance. That actually occurred  Friday morning at an 85.22 pivot whose provenance is proprietary.  The theoretical trade ended the day significantly in the black, but it would be validated if the end-of-day weakness we saw continues down to 77.60, the ‘D’ target of a minor pattern on the hourly chart.