When I look on the Daily chart of CL N8 I see a vicious headfake, squeeze the life out of shorts & when they are convinced that crude is 'unshortable' the real sell-off starts, but by that time a hell of a lot of traders would not trade CL from the short side, so I assume anyway. But the method that I use via the histogram + p/a do suggest that the end MIGHT be near. What wins a lot of the time in nailing tops is a combination of small stops & persistence. Histogram still suggests that an end, perhaps intermediate, we never know these things, MIGHT be near. I get headfakes all the time intraday, it's to be expected & when I manage to be in without kneejerking in price I have a nice moment, lucky strike. But I do expect headfakes on all my entries. So the same I see here on the Daily chart, signal is there still, perhaps not complete yet, but the fact is that no matter what the press or any analyst might say, no matter of what standing that person is, I will only trust the method that I use, not whatever somebody else uses.
Bottom line - I do see weakening p/a, especially so after that vicious upside last Thu/Fri. I will try & post here whenever I will start looking for a short entry, so we can compare notes.
Best to all!
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