Crude Oil Continues to Weaken Towards Important and Potentially Very Consequential Support

The correction of the August upleg continues off of the Aug 19 high at $48.75, and has sliced beneath key 50% retracement support at $44.00-$43.80 in route to a possible challenge of the 62% retrace level at $42.80-- into the area of the dominant 7-month support line, now at $41.25, which must contain any additional acute weakness to avert inflicting some potentially serious damage to the intermediate-term recovery process in Crude Oil.


  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!