February Crude has been on a ‘mechanical’ buy signal since early December, when a pullback first touched the green line. The futures have since gone flat, dancing a jig a ‘x’ that suggests DaBoyz are in no hurry to let it loose. Geopolitical mayhem, including the targeting of tankers in the Suez, has had surprisingly little effect, and we hesitate to ascribe this to ordinary forces of supply and demand. But with China’s economy weakening and the U.S. headed as always into recession, perhaps that is the explanation. Crazy world! In any event, the futures have pussyfooted at the green line for long enough that the buy signal, even if still theoretically valid, is no longer enticing.  Look for quotes to fall below C=64.21 over the next eight to ten weeks, pulling gas prices down below $3 in most states.