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 Remains in the Grasp of the Bears
Oil continues to trade lower, showing little or no upside umph.
My Point & Figure chart shows the still-dominant downtrend, which only will be challenged if Oil can climb and print above 48.00.
Otherwise, all roads continue to point to a retest of the early May low at 44.00 (43.76 intraday low), followed by another capitulation towards 42.00-40.00.
