US equities are broadly higher. Meanwhile, WTIC is currently -0.7% in the $41s. The energy sector ETF of XLE is currently net higher for the week by +5.9% in the $31.03s.
USO daily
XLE weekly
Summary
WTIC/USO: oil is churning the 41/40s, set for a net weekly gain of around 10%. Broadly stuck. Resistance 42/43s… with first support 36s.
XLE: Energy stocks are set for powerful net weekly gains. Based on a few individual stocks – such as the giants of CVX and XOM, we appear to have a s/t floor. For now though… clearly still m/t horror.
notable stock: XOM
Early gains… fully reversed, but it doesn’t negated what is a cemented s/t floor.
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Equities: sp’60min
There is little to expect this afternoon other than chop.