Oil has tried it both ways. Today’s ORL # is 56.83.
The early low was one of those scene of the crime #’s I like to talk about that produced the bounce.

Closing below today’s low would have me saying we’ve seen the high for a while in Crude.

The point & Figure chart tells me to not get sucked into selling weakness until the formation breaks down.

IYT…Transports have almost completely retraced the Sept 19 low of move.

Do not get the idea that because the Transports are weak that the Indices will roll over!!!!!!!!

Oil…