Recs did a great job of catching low and from early March have recommended to lock in some gains, especially after the CL1 contract tag of Q2P and rejection. But I also suggested runner portions to hold above the Q2P and that was a mistake, as that busted without any bounce. In my view there is no holding and hoping here, any longs with an asset below all pivots with the look of rejection are an immediate scram and then reverse some short depending on total positioning of portfolio. I am not going to link all the recs but you can search on the tag and see for yourself.
Despite the impressive hold on YS1 / 1HS1 combo and huge rally, oil is still in a long-term downtrend ie below YP and 1HP.
CL1 D version showing poke above Q1P and rejection after 2 trading days. Data shows 4/4 only, near Q2P at 35.43.
CLK current contract didn't even reach its Q2P, started AprP below its pivot and quickly broke Q2P. I was hoping to hold runner portions of oil, EWZ, RSX with oil above Q2P but that was wrong idea. Per strategy report, anything below all pivots with look of rejection means no more longs and possible short.