Whilst the main market was relatively flat, there was notable weakness in Transocean (RIG), which settled -3.8% @ $10.09. The psy' level of $10 will act as soft support in the near term, as a move to test the double top of $13 still appears viable, if WTIC oil can re-take.. and hold above $50.
Price action in RIG remains pretty wild. The stock has been struggling - relative to the main market, since mid July - which now acts as a double top from an early March high around $13.
Indeed, the $13 threshold is now an extremely important level. Any break >13 would open up an easy move to soft psy' resistance of $15, and from there... the $20 level.
Even if RIG can claw to $20 by late spring 2017 - with WTIC oil in the $70s (the most bullish of realistic scenarios), that will still leave RIG some 60% lower than the typical trading levels of 2013.
Highly speculative... but... after some degree of re-organisation, RIG looks set to stay afloat.