CLU24 – June Crude (Last:76.44)

Crude’s so far $1.35 bounce from within 7 cents of the 76.26 target I’d flagged suggests the rally is likely to get legs, so don’t be fooled if this vicious little sonofabitch fakes a low beneath Friday’s 76.19 bottom before it takes off.  This could set up a ‘counterintuitive’ trigger for Pivoteers who are familiar with the technique, which is the forerunner of the reverse-pattern set-up. Since no forecast should be chiseled in stone, let’s remain open to the possibility that the low will be broken decisively. If that occurs, assume DaBoy are fixing to crush quotes.