/CL has just hit the final price target, T4, which remains the first of the uptrend line (which now comes in first) or the 100.88 support. Closing out my short position here & may start scaling into a long for a bounce trade from the trendline down to but not below the 100.88 support level. Previous 60-min chart from June 14th (the very day crude topped) followed by the updated 60-minute chart below.
CL 60m June 14th
CL 60m June 22nd
Direct (crude oil) alternative proxies for this short trade were /QM, /MCL, USO, SCO with the indirect crude oil proxies (XLE, XOP, XES, DRIP, & the coal stocks), likely to bounce if/when crude reverses around the uptrend line and/or 100.88ish price support just below.