CL Crude Oil Futures Daily Chart Analysis: 2026-May-07 07:02 CT

Price Action

Last: 91.99,
Bars: Large,
Mom: fast.

WSFG Weekly

Short-Term
WSFG Current: -40%
F0%/NTZ' Bias: Price Below,
WSFG Trend: Down.

MSFG Month May

Intermediate-Term
MSFG Current: -53%
F0%/NTZ' Bias: Price Below,
MSFG Trend: Down.

YSFG Year 2026

Long-Term
YSFG Current: 120%
F0%/NTZ' Bias: Price Above,
YSFG Trend: Up.

Swing Pivots

(Short-Term) 1. Pvt. Trend: DTrend,
(Intermediate-Term) 2. HiLo Trend: DTrend,
3. Pvt. Evolve: Pvt Low 88.66,
4. Pvt. Next: Pvt High 101.70,
5. Levels R: 114.36, 110.93,
6. Levels S: 88.66, 78.97, 76.93, 68.15, 56.69.

Daily Benchmarks

(Short-Term) 5 Day: 102.16 Down Trend,
(Short-Term) 10 Day: 100.42 Down Trend,
(Intermediate-Term) 20 Day: 95.39 Down Trend,
(Intermediate-Term) 55 Day: 88.19 Up Trend,
(Long-Term) 100 Day: 73.34 Up Trend,
(Long-Term) 200 Day: 64.92 Up Trend.

Additional Metrics

ATR: 211,
VOLMA: 345883.

Recent Trade Signals

06 May 2026: Short CL 06-26 @ 100.3 Signals.USAR-MSFG
05 May 2026: Long CL 06-26 @ 104.29 Signals.USAR-WSFG
30 Apr 2026: Short CL 06-26 @ 104.1 Signals.USAR.TR120
29 Apr 2026: Long CL 06-26 @ 106.8 Signals.USAR.TR720

Overall Rating

Short-Term: Bearish,
Intermediate-Term: Bearish,
Long-Term: Bullish.

Key Insights Summary

Crude oil is in a sharp daily pullback from the early-May swing high, with price back below both the weekly and monthly fib grids and sitting under the 20-day benchmark. Short-term structure has flipped to a bearish pivot trend, and the most recent signal cluster is aligned with that downside rotation. The tape still shows a larger long-term uptrend by the 55-, 100-, and 200-day benchmarks, so the broader structure remains constructive even though the current daily phase is a corrective selloff. The market is trading in a lower-high, lower-low sequence after the April/May expansion leg, with nearby support defined by the 88.66 pivot low and overhead resistance at 101.70, 110.93, and 114.36.