Browse Symbol Stacks: /CL: CL_4Hour_Feb032015.jpg
Crude bears now have a candlestick reason on a major timeframe to be concerned.
As of 1:05pm est Feb 3rd, we have a break and close above a prior swing high on the 4-hour /cl chart.
The fibonacci price pattern "Bear Shark" allows for price to rise up to 52.79 (being the 1.13% retracement), so all hope is not lost.
It has been a very painful past few days if you're a bear in /cl, and weren't scalping intraday.
As for being a bear or a bull, who cares? Make money off the direction the market gives you. However, if you hole contracts overnight, more power to you.
I'm normally a price-action first trader, and have found combining price action with trend yields higher probability of success.