US equities remain in minor chop mode. Meanwhile, WTIC is currently +0.2% in the $53s. The energy sector ETF of XLE is currently net lower for the week by -0.6% in the $42.47s.
USO daily
XLE weekly
Summary
WTIC/USO: oil continues to churn the 53/52s. Its arguably just s/t bullish consolidation/chop, after the break >psy’50, and the $52s. The door is wide open to $65/66s.
XLE: energy stocks are struggling today, partly pressured by background anti-oil chatter from the left. Clearly, that is going to be an issue for some time.
notable stock: SLB
Schlumberger is lower with the sector. Earnings due early Friday should show a return to profitability. Primary target 28/29s, with secondary 38/39s… the latter will arguably sync with WTIC 65/66s.
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Equities: sp’60min
S/t momentum is set to turn negative late afternoon/early Friday, with natural target of yellow gap.