Thoughts on Crude Oil (CL) Downtrend

Watching $CL closely today after the sharp drop. That break below the $70 mark is significant. I'm looking at $68.56, which was the day's low, as a key level. If we close below that on higher volume, it suggests this downtrend has more room to run, potentially testing the lower $60s.

The risk to this scenario, of course, is a quick reversal back above $70. If sellers can't maintain pressure and buyers step in aggressively around these levels, especially if we see a bounce off that $68.56 mark, then this could just be a deep retest rather than the start of a larger move down. Always tricky to call these reversals in real-time.