Short CL @ 65.54. Today, I placed my limit order to short CL at 65.54, since it was the 61.8% retracement of the fall from 65.96 to 64.86. The worse that it went against my position was 65.55; that is, I had at worse a floating loss of $10 per contract. See my first graph. I contend that we are in an intermediate wave c going down. A possible target for intermediate wave c is 61.57, assuming that intermediate wave c = intermediate wave a. See my second graph. Note that intermediate wave b was slightly more than the 38.2% retracement of the fall from 72.90 to 65.80. See my third graph. This underscored how strongly bearish CL has become.
failure at the 38% is always a good sign for further weakness. As your lower chart shows. If you look at the long wick just below B, that was both a stop chaser and an indication for lower prices. It had a reversal close or at leased a weak close. But Volume has to spike at that point and I believe it had. Spikes are Turning points as long as weakness shows up in Bar close. after all we are playing with probabilities.
Early out, I underestimated the momentum. But, can't complain about profits, Better out on the + than the -.