/CL (crude oil futures) has already hit the first price target (61.87) with the typical momo-fueled overshoot, so far. While the odds for a reaction here are elevated, a solid 60-minute close below that support level, especially if we get the recently mentioned sell signals in the stock futures (/NQ & /ES), should open the door to the next leg down. Previous & updated 60-minute charts below.
CL 60-min April 20th
CL 60m 2 April 20th
At the same time crude falls to support, /NQ (Nasdaq 100 futures) is testing the 13772 support where we might get one more reaction before that level goes, opening the door to the first target of 13540. Bounce or no bounce here, next sell signal to come on a solid break and/or 60-minute candlestick close below 13770. Previous (April 12th) & updated 60-minute charts below.
NQ 60m April 12th
NQ 60m April 20th