CL1 - Going Lower, or Pressing Resistance?

NYMEX:CL1!   Light Crude Oil Futures
I keep hearing that oil             will go lower, that it was just a bounce, however…

CL1 reached $54 and then shot down to $47
CL1 reached ~$53.7 and now has shot down to $50.

Is the bounce over, or is price pushing up against a supply level with lower lows?

I see Three White Soldiers and Cup and Handle , but most of all, I see a resistance level at $54. I'm sticking it out and watching it go through that level next week.

I am not buying crude, but playing on the energy sector with TSL             CSIQ             BBEP             GPRE             and SPWR             (which crosses over with housing).
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out