Potential Short

If oil (CL) breaks below $63.43 then short it to $61.92.  Price has been on a really nice uptrend and is getting ready to hit off of the trend line.  I’m testing out MT5 using AMP’s data feed in demo which is what this chart is.

Still a Strong Oil Market

Even if price breaks below that trend line and retraces to the 38% fib retracement which is the top of the gray box it still has had a very solid run over the past month.  Or price could hit that trend line and bounce back up like it has done since mid December.  But if price breaks the trend line then I would go short with the exit around $63.43.