Depends on what you expect out of the short. None of this may mean anything, of course. For now I'm just playing.
It appears that it won't be making a third trip to the mean, so let's see if it makes it back to 110.
the Nasdaq trading in a 15 point range for a few days will get you looking elsewhere for some movement! I am slowly working through everything, but I have found that CL behanves quite nicely with the lines. 80+ tick swings off of retracements are realistic...when there are war drums beating you can definitely get some more movement out of it. I plotted this channel on the weekly about 3 weeks ago.
Too bad I didn't start this thread sooner. We might have seen that price was coming at 106 from two different directions and done something with it today.