US equities remain a little choppy, leaning on the weaker side. Meanwhile, WTIC is currently -1.4% in the $47s. The energy sector ETF of XLE is currently net lower for the week by -2.2% in the $38.04s.
USO daily
XLE weekly
Summary
WTIC/USO: oil is leaning weak, having printed $46.60, partly pressured by the main market, and a moderately stronger dollar. S/t vulnerable.. if only a little. Psy’50 remains set to be broken above.
XLE: energy stocks are lower with the main market. Still m/t bullish to take out the June $45s.
notable stock: OXY
Occidental is just cooling with the sector. Broadly, the November breakout holds… only negated if <14.00.
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Equities: sp’60min
Price action is increasingly messy. The bulls could argue s/t price structure is a bull flag.