US equities have built moderate gains. Meanwhile, WTIC is currently +0.8% in the low $82s. The energy sector ETF of XLE is currently net lower for the week by -1.2% at $88.98.
USO daily
XLE weekly
Summary
WTIC/USO: oil has swung from $80.81 to $82.66, largely due to the latest EIA Pet’ report. Today’s candle is bullish engulfing. Soft target are the recent $84s. A weaker dollar (on CPI) would help!
XLE: energy stocks recovering with oil, due to settle moderately higher. The sector looks pretty good into August, and that doesn’t assume any geo-political upsets.
notable stock: XOM
A new s/t low, but recovering upward with the sector.
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notable stock: OXY
Set for a second daily gain.
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Equities: sp’60min
… the 5600s, with momentum due to turn positive.
6K is just another 7% or so higher.