Price movement in this vehicle, a proxy for the biggest, deepest commodity market in the world, is so squirrelly that the chart, stripped of its right-hand axis, could be mistaken for that of a Vancouver penny stock. Even so, there is no trouble discerning the 98.72 rally target, nor in sticking with it through the inevitable feints, swoons, kamikaze dives and bottle-rocket rallies. The target is a presumptive weigh-station enroute to the $117 target of a bigger pattern that was the subject of a recent commentary.
CLX23 – November Crude (Last:87.69)
