Near Term Trend: Bullish
As of 11/10/17 close: $56.90
UPDATE: Last week, I suggested shorting near $55.70 with stops on any close above $56 and with a target of $50.67.
Crude blew through stops again. Under normal circumstances, this would be unbelievable. However, with Saudi / Iranian tensions, anything is possible. Technically, it would make sense for a pullback and re-test of the broken downtrend line as new support. That comes in at around $54.75.
I would be taking profits on long positions and would consider shorts between $57.50 and $57.92 with stops above $58. Cover at $54.75.