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Crude Breaks $43.00, Pressured by a Strong USD, But Remains Above its Feb- Sept Trendline at $42.40


The moment of truth for the coil pattern set-up is approaching as Oil presses towards a test of the Sept 1 low at $43.00, which, if violated, will morph the June-Sept corrective coil-type structure into something else-- that will argue for additional weakness that tests the Feb-Sept up trendline, now in the vicinity of $42.50.

The $43.00 - $42.50 zone represents very consequential support, and must contain any further weakness to avert a full-fledged assault on the important Aug low at $39.19.

Any strength from the $43.00-$42.50 area must climb and sustain above $43.70 to trigger preliminary upside reversal signals.

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