Downtrend manifests, watch out for seasonal low in late August LIGHT CRUDE OIL FUTURES NYMEX:CL1! AndreasMunz Downtrend has established after topping at 50. The 200 day MA (yellow) provided some support for now, but on the upside the 7 day MA (red) acts as resistance in this downtrend channel. I am looking for another test of the lows at 39. Further support comes in at 36 then 33. Option idea to consider IMHO: as we near upper trend line: --> sell call spreads and buy a put as we near lower end, get out and sell p spreads (dont buy calls here)