Mike's Mid Day Minute is available to members on Monday, Wednesday & Friday evenings, with one article per week available to non-members. Members please login and see "Mike's Mid Day Minute" in the navigation menu towards the top of the page.

Oil Inventory Build Exacerbates Selling Pressure Atop a 60% Upmove


The weekly Inventory Report showed a huge build in supply, which has renewed pressure on oil prices atop its 61% Feb-Mar recovery rally.

Since yesterday's high at $41.90, Oil has rolled over from near the upper-boundary channel line just above $42.00, into a traverse of the width of the channel. Oil has traversed about half of the channel so far, and if it presses towards a full-fledged test of the lower-channel boundary, then $38.50 is the next optimal target.

  • 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!