As we have an inverted hammer candle on the WTI crude oil daily chart, with a volume spike, it can be a short opportunity. One could sell a futures contract, buy a straight put, buy a put spread (or sell a call spread) to play this setup. Technically, it is in overbought conditions, with a large spread from the moving averages in the immediate condition of sideways pivots for the month/week. This means it is poised for reversal trades, and a candle signal like this one could be a reason. I am pricing a straight put in the 63.50 strike for next Friday's expiration, costing nearly $400. 62.70 would be my first target if I am directionally correct.