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Crude Oil is consolidating lower following the break of the trendline. This pattern is perhaps more clear on the weekly chart, but it appears to be a small daily consolidation pointing lower. I used the term “nested pullback” in The Art & Science of Technical Analysis to refer to this pattern: a small, lower timeframe consolidation that occurs within the resolution of a directional, higher timeframe pattern. These trades can offer exceptional reward/risk characteristics with strong probability of a profitable resolution.

(Note that USO can be used to execute this trade, rather than futures, but be mindful of overnight gap risk.)