CLH 2/2/17

The selloff from the 53.90 extreme didn't catch much momentum which is a bit concerning for bears. Although the overall bias is to the downside, (still based on that double top on the daily chart), there might be a better short area a bit higher. My eyes will be around 54.25 as it's near the top area of the range we've been oscillating in for the past 15 days. Until we really breakout of the range it'll be the same trade per usual: follow the extremes. Big picture target is 50.80 to downside.