August 20, 8:19 am MST – October Crude oil  – Oil traders were caught by surprise after EIA government report showed that U.S. inventories declined the most in more than a year. The decline in stocks was caused by lower imports and the increase production from refineries. I had been looking at this market as setting up a bearish pattern, but the pattern was never confirmed. Instead, Crude rallied off the upward sloping action line support and traded above the prior swing pivot high and closed beyond the downward sloping reaction line. This price action suggests the market will resume the longer-term upward trend with a target objective of 84.00. – Buy a pullback to 72.60 with the stop loss under 69.70.