Nymex crude oil prices have been unable to rally in the aftermath of Saudi Arabia’s surprise move pledging to unilaterally cut its crude oil production by 1 million barrels per day starting in July. Nymex crude prices are presently lower than they were just prior to the weekend Saudi news. Any time a market cannot rally on fresh bullish news, that’s a sign that market is in trouble and is technically weak. A Wall Street Journal story headline Tuesday read: “Commodity prices signal slump.” Stay tuned! Jim Wyckoff