Crude has pulled back sharply three times since its moon shot to 120 last March. The first two times, the subsequent rallies died precisely at their respective Hidden Pivot midpoints. If the third pullback to early July’s 67.04 low produces the same result, which is what I expect, the current rally will sputter out at exactly 99.34, a Hidden Pivot midpoint just like the others.  The only other scenario worth pondering at the moment would be for buyers to rip through 99.34 with such ferocity as to practically guarantee more upside to the 131.63 target. It’s possible, but only if something truly horrendous occurs to curtail the global supply of oil.  Take the odds on that outcome only if you can get at least 10-to-1.  Finally, if the uptrend exceeds p=99.34 without impaling it, that could mean there will be yet another leg up following a deep retracement, possibly into the 50s. ______ UPDATE (Jul 27, 12:30 p.m.): Oh, yeah, right, a fourth scenario –and who could not have seen it coming? There is word tonight of a ‘pause’ in U.S. air strikes, and of new ‘talks’ in Oman. Oil quotes have responded with a 7% drop to 83.10. Don’t get your hopes too high for ‘peace,’ though, since the chart says prices for the September contract will fall no lower than 82.11. It is only if they crush that Hidden Pivot support, implying more downside to as low as 70.72, that you should believe the news is anything more than the usual Sunday night spin, calculated to slow the relentless rise of prices at the pump.  The 93.50 target that I suggested shorting (see my 11:29 post) on Friday has caught the exact-to-the-penny top of a $10 decline. If you still hold a position, use a ‘dynamic’ or impulsive trailing stop to manage the risk. Both techniques are covered in the Hidden Pivot Course that is available free to legacy subscribers and newbies who have signed up for a year. _______ UPDATE (9:15 p.m.) : My latest target, a bearish one drum-rolled above, scored yet another a dead-center bullseye when the futures fell to exactly 82.12, then turned up hard for a $2.28 rally so far to 84.40. Any shorts should have been covered at or near the low, but if you reversed a position and went long, cash out some of the implied $10,100-per-contract profit now.