$CL reclaimed the 96 zone and is now retesting it as support after the pump toward 108.
What stands out is the price is holding right on the rising support trendline off the EMA 50 (94.6), and open interest has actually eased off slightly through this consolidation while the long/short ratio keeps climbing toward 0.44 — that's fresh longs building into the dip rather than late longs getting trapped. Sellers haven't managed a real break below this trendline despite the pullback from the 108 wick.
If it holds above 94.6, I'd expect another leg toward the 102-108 zone. If it loses the trendline near 92, this retest fails and the move likely cools off toward the EMA 50/200 gap.
What stands out is the price is holding right on the rising support trendline off the EMA 50 (94.6), and open interest has actually eased off slightly through this consolidation while the long/short ratio keeps climbing toward 0.44 — that's fresh longs building into the dip rather than late longs getting trapped. Sellers haven't managed a real break below this trendline despite the pullback from the 108 wick.
If it holds above 94.6, I'd expect another leg toward the 102-108 zone. If it loses the trendline near 92, this retest fails and the move likely cools off toward the EMA 50/200 gap.
