2pm update - Oil fails to hold the floor

Whilst the broader equity market continues to churn... there is notable weakness in the energy market, with a new multi-month low for WTIC Oil of $52.90. Metals remain similarly weak, Gold -$13.


USO, 60min

Summary

With the micro double floor of Dec 16/18, now taken out... next downside support is the $50 psy level, but many are obviously looking for the mid $40s.

Regardless of today's close... the downward trend since June... has resumed.

Notable weakness, TWTR -2.6%
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back at 3pm