$CL is showing signs of exhaustion after the sharp move toward the $106.98 high.
Price is now pulling back from the upper Bollinger Band while the 4H chart shows a stretched move and momentum starting to cool. I’m watching the $100 area closely. If price fails to reclaim and hold above $100 then a deeper pullback toward $97 to $94 becomes possible.
For a scalp I think the short side offers a better risk to reward here.
Scalp Short $CL
Entry: $100 - $98
TP: $97 - $96 - $95 - $94
SL: $102
Key confirmation: rejection around $100 and continued weakness below $98.
Price is now pulling back from the upper Bollinger Band while the 4H chart shows a stretched move and momentum starting to cool. I’m watching the $100 area closely. If price fails to reclaim and hold above $100 then a deeper pullback toward $97 to $94 becomes possible.
For a scalp I think the short side offers a better risk to reward here.
Scalp Short $CL
Entry: $100 - $98
TP: $97 - $96 - $95 - $94
SL: $102
Key confirmation: rejection around $100 and continued weakness below $98.
