Sellers drove the January contract down through the midpoint support at 82.97 with such force that a further fall to at least D=73.40 appears all but certain. We’ll consider getting short ‘mechanically’ if there’s an intervening rally to the green line (x=87.75), or even to p=82.97, but a bottom-fishing opportunity at D seems more likely at present to materialize. If that Hidden Pivot support gets crushed, expect more downside to at least 70.00, or even to 66.70. Both are Hidden Pivot ‘D’ targets derived from successively higher point ‘A’s. _______ UPDATE (Nov 28, 10:18 p.m.): Crude’s ballistic rebound from within an inch of the 73.40 downside target drum-rolled above allowed at least one subscriber to report a $1650 profit in the chat room. I see no such lay-up possibilities today, so we’ll give it a rest.
CLF23 – January Crude (Last:77.72)
