US equities are leaning upward, breaking new historic highs. Meanwhile, WTIC is currently u/c in the $45s. The energy sector ETF of XLE is currently net lower for the week by -0.9% in the $40.28s.
USO daily
XLE weekly
Summary
WTIC/USO: oil is churning the $45s. The door remains wide open to psy’50, with secondary of the 52s. The latter appears realistic in Jan/Feb.
XLE: energy stocks having a strong day, set for a SIXTH consecutive net weekly gain. Soft target remain the June $45s.
notable stock: XOM
Exxon is leading the sector today. Bullish engulfing candle leans distinctly s/t bullish.
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Equities: sp’60min
The 3700s… as s/t momentum is due to turn positive mid/late afternoon.