I don’t usually overlay a second pattern on a chart, but in this case my intention was to show how the May futures can be bought at 79.81 for a shot at D=88.69. This is a reverse-pattern set-up, and it can be done with a limit bid and a tight stop-loss, but also with a ‘camouflage’ trigger on a lesser chart that would limit risk even more. Use extra caution, since it wouldn’t take much drama Sunday night to open the futures below d=79.81 of the rABC pattern. If tat happens, a larger reverse-pattern a-b will be in play: a= 78.80 on 1/29/24. It yields a ‘d’ target at 75.90 that would be the maximum correction from the recent high at 83.18. The target coincides with a voodoo number, so it would be a back-up-the-truck opportunity to get long. The large pattern would be confirmed and corroborated by a bounce precisely from 79.54, the midpoint HP support. Do not share this information with anyone, since that could queer the ABCD/abcd patterns’ hidden power over the futures.
CLK24 – May Crude (Last:80.63)