CL Crude Oil Futures Daily Chart Analysis: 2026-May-08 07:01 CT

Price Action

Last: 94.75,
Bars: Large,
Mom: average.

WSFG Weekly

Short-Term
WSFG Current: -30%
F0%/NTZ' Bias: Price Below,
WSFG Trend: Down.

MSFG Month May

Intermediate-Term
MSFG Current: -41%
F0%/NTZ' Bias: Price Below,
MSFG Trend: Down.

YSFG Year 2026

Long-Term
YSFG Current: 129%
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: 94.75 Down Trend,
(Short-Term) 10 Day: 100.32 Down Trend,
(Intermediate-Term) 20 Day: 95.4 Down Trend,
(Intermediate-Term) 55 Day: 88.43 Up Trend,
(Long-Term) 100 Day: 73.76 Up Trend,
(Long-Term) 200 Day: 65.11 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

Overall Rating

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

Key Insights Summary

Crude oil is trading well off the early-May swing highs and has rolled back below the month’s fib mid-zone, leaving the short-term structure in a corrective down leg. The pivot model shows DTrend on both the short-term and intermediate-term swing measures, with the next upside pivot only above 101.70 after the recent low at 88.66. Price is sitting under the 10-day and 20-day benchmarks while still holding above the rising 55-day, 100-day, and 200-day averages, which keeps the broader trend constructive even as the daily tape has turned more two-sided. The recent sequence reflects a sharp rally into resistance, a rejection, and a retracement back toward the mid-range, with volatility elevated and candles showing a larger swing environment rather than a clean trend day regime.