To the left is a 4 hour chart of crude oil. As you can see, we have been in a little bit of a channel for the last week or two (shown by the yellow trendlines on chart). It seems like currenlty we are at the lower end of this channel, which also lines up with the 38% retracement of the prior down move (shown in green). We also see a little bit of divergence between the two recent low peaks as we dont quite take out the previous low and our MACD has gone further than the previous down peak. It also looks like we are somewhat holding these green retracements, so I would look to take off at least half of this position at the 61.8% or about 98$ range.