/CL has just hit the first price target where the odds for a reaction are elevated, followed by another leg down to the second target zone. As suspected, once the 63.7 support & last week’s reaction low just below it were taken out, crude dropped impulsively to the first target, down roughly 6% on the day. Previous & updated 60-minute charts below.
CL 60m March 15th
CL 60m March 16th
CL 60m March 18th
CL 60m 2 March 18th