Although crude oil is certainly tradable using Hidden Pivots, it rarely traces out patterns that I like. This one is an exception, however, and it promises to do everything we might ask of it. That means: 1) providing a good ‘buy’ signal at x=73.83, which it has already done; 2) offering a tightly stopped short at p=75.34; 3) making a move to D=78.37 a high confidence call if p is penetrated decisively; and 4) yielding a high-odds ‘mechanical’ buy at the green line if a pullback to it should occur from in-between p=75.34 and p2=76.86. Are you ready for this cornucopia of opportunity? _______ UPDATE (Jun 23, 7:25 a.m. EDT): The futures gapped explosively to within three cents (0.03) of the 78.37 target I flagged above as a good bet. If you took that bet and then got short at the target with a stop-loss as tight as a nickel, you could have caught and up and down ride worth as much as $4,000 per contract.
CLQ25 – August Crude (Last:73.89)
