US equities are choppy, if leaning upward. Meanwhile, WTIC is currently -2.2% in the $96s. The energy sector ETF of XLE is currently net higher for the week by +3.1% at $71.17.
USO daily
XLE weekly
Summary
WTIC/USO: oil printed $94.59, if recovering to the $96s. S/t shaky… but the door remains open to the 50dma in the $108s.
XLE: energy stocks had a rough morning, if slightly above their lows, helped with the main market leaning back upward.
*I hold long the sector via OXY, SLB, RIG… having dropped KMI in early morning.
notable stock: OXY
Lower with the sector… should resume upward.
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notable stock: RIG
Lower with the sector. Soft target remains $3.10.
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Equities: sp’60min
A sporadic burst upward… for no apparent reason.
In any case… 4K is near, and should be cleared.
I’d keep in mind the 38% fib (weekly chart) of 4088, which seems possible, before a swing lower to the low 3800s, before yet another swing upward!