US equities are choppy, if leaning on the upward side. Meanwhile, WTIC is currently +1.2% in the $71s. The energy sector ETF of XLE is currently net higher for the week by +2.4% at $56.47.
USO daily
XLE weekly
Summary
WTIC/USO: oil printed $72.33, but has cooled back to the $71s. Set for a powerful net weekly gain of around +8.0%. Next resistance 74/75s. JPM touting oil to $125 in 2022.
XLE: energy stocks seeing moderate chop to end a bullish week. A challenge of the recent $59s remains realistic before year end. A 2021 settlement >60 would be decisive, and give extra confidence for 2022.
notable stock: SLB
Schlumberger fairing better than the sector.
UOA (via pete): May $35 CALLS.
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Equities: sp’60min
Chop chop… as s/t momentum is slowly ticking upward, due to turn positive into the close/early Monday.