The main energy futures contracts have been range-trading, as we wrote in the July 1st edition and the various lurches up and down have been marked by occasional compressions. The most recent drop started with compressions in crude and heating oil as shown in the charts below and now prices are at support that will be provided by older compressions (ringed in the first chart).
There is a parallel in the weekly picture, as both Brent crude and Rbob gasoline made weekly-scale compressions from which they moved higher. These compressed levels are now being re-tested in the normal way and prices should find support here.
If you want to do some energy range-trading, this would seem to be an opportunity to buy some. Rbob may be the best bet but crude is also a candidate in either WTI or Brent versions. Take profits as they become available, as is usual in a range - if we see a good place to get out of long positions we will publish it, but don't wait for us to do that if you have a decent profit.