Bottom fishing play at oil support level of 50.60ish, the last low from a few months ago. Major oversold levels in 15 minutes, 1 hour, and 4 hour. Also took a smaller position as this is counter trend play. Entered at around 50.80 level in an 2x oil bull ETF, could have been more patient and enter right at support. Exited early at 51.25. Could have held till end of day for higher gains, but with lack of V shape recovery and cooling RSI levels, just took a smaller gain.

Used oil 2x bear ETF for trade so didn't have to short (which is 2x higher volatility than the oil price). From TheChartGuys, oil was in an inside candle from previous day. Breakout of 55.59 is bullish and breakdown of 54.22 is bearish. Oil broke below 54.22, so I entered my position. Had a mental stop loss if this was a false breakdown. Oil fell further and past below premarket lows so held on longer before selling as the price began to be choppy. Sold at oil price of 53.70 for a nice single.