Key Break-Down In Crude Oil
- The “internals” for the stock market’s advance this week are not anywhere near as good as they were last week, so the rally is getting tired. This does not mean it cannot continue, but it should be due for a pullback/breather at some point very soon.
- Crude oil has broken well below its key support level, but the energy stocks have not fallen as much. If WTI crude stays below $80, those energy stocks are going to become more vulnerable over the near-term.
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