My thoughts on crude (/CL & USO), posted in the trading room a short while ago are pasted below: https://rightsideofthechart.com/members/zyx/activity/90961/#acomment-90971

/CL looked good at towards the end of last week & earlier this week with that 60-min bullish falling wedge pattern that broke out impulsively on Thursday. There was a nice rally in crude, hitting & exceeding my first target (a search for /CL on the search icon to the right of this page should bring those charts/posts up) and the rally did about meet the measured target of the pattern but then crude was & continues to be sold into impulsively which is not very bullish. Oversold & still above support on the daily chart so I don’t care to short it here but prefer to watch it for now as it would put in another divergent low (60-min) at or near long-term support if it takes out the recently low & may offer another objective long entry soon.
Crude is also starting to slowly lose the tight correlation with the stock market but it does still exist to an extent to whether crude rallies soon or not could depend on what the market does.