/CL (crude oil futures) sell signal has been triggered on this break below the uptrend line with the next sell signal to come on a solid break below 80.75. Price targets* shown on the 120-minute chart below. *unadjusted targets, best to cover slightly above your preferred price target(s) as those are the actual support levels where a reaction is likely upon the initial tag.
For those that prefer trading ETFs/ETN’s over futures, SCO (-2x short crude ETN) offers an objective long entry here following today’s sell signal on /CL crude futures. Unadjusted price targets shown on the 60-minute chart below.
Other proxies for shorting crude oil are /QM (MINY crude futures), /MCL (micro crude futures), USO (+1x crude ETN), or any of the energy sector ETFs such as XLE, XOP, XES (1x longs), or DUG, DRIP, etc.. (leveraged inverse shorts).