CLZ22 – December Crude (Last:88.38)

I try to avoid patterns as obvious as this one, but it’s the best we’ve got at the moment. Last week’s stab through p=88.29 is bullish, but it doesn’t guarantee a finishing stroke to D=95.28. Actually, I’d be inclined to try shorting the futures a dollar or so below D at whatever ‘voodoo’ number we can scare up at the time. In the meantime, my bias is bullish, predicated on minimum upside to p2=91.79. A pullback to the green line (x=84.80) should be regarded as an attractive opportunity to get long ‘mechanically’.  There is $14,000 of theoretical entry risk, so the trade is recommended only to those who know how to reduce it by at least 90% using a ‘camouflage’ trigger.