$CL Watch for short opportunities; this level may still move lower.



The current price is being capped and pulling back in the 78.23 to 78.41 range. The bearish setup on the 4-hour timeframe remains valid, and the daily overall is still range-bound consolidation. I see the 15-minute RSI around 38; sellers may continue to put pressure on, and the volume has also confirmed that there is real sell-side participation.

Downside, you can first watch support around 77.69, and possibly even around 76.64. However, don’t go in too aggressively—set a stop-loss around 79.16 and manage your risk.
CL0.19%
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