(Posted on behalf of mptrader.com and author Mike Paulenoff)Friday May 25th, 2018 by Mike PaulenoffCrude Oil weakness... acute weakness... is all that matters today. Judging from the intense selling pressure and the damage inflicted on my near and intermediate term chart work, this breakdown in Oil is, and will be extremely significant. In fact, the BIG question for me is whether or not the ENTIRE COUNTER TREND ADVANCE OFF OF THE FEB. 2016 LOW AT $26.05 ENDED THIS WEEK AT $72.90? If the answer is yes, then believe it or not, Oil prices are in the initial decline of a downmove that represents the continuation of the Oil bear market from the July 2008 high at $145.07, and thus, has the potential to revisit and to break the 2016 lows ($26.05). The implications of this week's Key WEEKLY Downside Reversal are many. What are the ramifications for other sectors, for economic growth, for inflation-disinflation, et al?... Last is $67.58/595 25 18 Weekly NYMEX Crude Oil GIF Mike Paulenoff is author of MPTrader.com, a real-time diary of his technical analysis & trade alerts on ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international markets, plus key ETF component stocks in sectors like technology, mining, and banking. Sign up for a Free 15-day Trial!* I really like Mike's charts and analysis. This is shared with my readers here via MPtrader.com *MY TAKE: "I am thinking maybe oil marked a short-term top, but do not agree that it will re-enter a bear market and test the $26.00 lows."Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. Follow us and check back occasionally for additional articles or comments.