On the daily chart, we can see that Crude Oil broke through the $80 level and extended the rally into the key resistance around the $83 level where we can also find the upper bound of the rising channel. This is where we can expect the sellers to step in with a defined risk above the resistance to position for a drop into the lower bound of the channel. The buyers, on the other hand, will want to see the price breaking higher to invalidate the bearish setup and increase the bullish bets into the $93 level.