$CL Watch for shorting opportunities. Everyone is chasing a breakout right now, but I think this could be a trap; the rejection zone has already started to show a reaction.

The larger-scale shorting logic is still intact. On the daily timeframe, price continues to stay in a range-bound, oscillating pattern. Right now, at the 83.52 to 83.60 area, there is clear resistance.

The 15-minute RSI is still around 43, and the bears still have plenty of room to push further down. In addition, the 15-minute volume data also confirms real sell pressure.

You can consider entries around 83.52 to 83.60. The downside targets may be near 83.26 and even around 82.77. For your defense level, remember to place it above 83.96. Keep risk under control—don’t go in too aggressively; see whether it drops straight down or tests once more.