A Pivotal Moment for Crude Oil 🌤️ The Morning Print

Good morning! 

Crude Oil is down over -12% this morning and is breaking down from its multi-week range.

Let's take a look.

Crude Oil has taken the market for a roller coaster ride over the past month.

Forecasts have swung wildly, from calls of $200 a barrel to predictions of a drop back to $50.

While the headlines were extreme in both directions, crude oil continued to consolidate within its confined range.

Now, oil appears to be decisively breaking down.

If this move holds, it should act as a powerful tailwind for markets.

However, a failed breakdown would flip the script fast.

Let's see what happens.