US equities are a little choppy, with indexes leaning back upward. Meanwhile, WTIC is currently +2.4% in the $69s. The energy sector ETF of XLE is currently net lower for the week by -1.1% in the $48.06s.
USO daily
XLE weekly
Summary
WTIC/USO: oil printed $69.96, teasingly close to psy’ $70. A break >70 remains due, and then onward to test the even more important $77.00 threshold. Set for a net weekly gain of around +1.0%
XLE: energy stocks are ending the week somewhat positive, but it’ll still make for a second consecutive net weekly decline… yet to clear the 10MA.
*I resiliently hold long via OXY, SLB, MRO, RIG.
notable stock: OXY
Occidental battling to hold some degree of gains. S/t price structure is a bull flag. I hold for the 31/32s.
—
Equities: sp’60min
We have a provisional s/t cyclical floor/turn from 4477. Momentum might even turn positive before the close. Regardless… all the bears have managed is choppy cooling from last week’s hist’ high of 4545.