US equities are choppy, if mostly leaning upward. Meanwhile, WTIC is currently -0.6% in the mid $70s. The energy sector ETF of XLE is currently net lower for the week by -2.8% at $90.19.
USO daily
XLE weekly
Summary
WTIC/USO: oil is churning around psy’ $70. Israel is clearly going to attack Iran. I have to expect at least a few energy facilities will be targeted. Upside resistance… $78s, and then $84s.
XLE: energy stocks are battling to hold moderate gains. Prone to spiking with oil… when the next ‘spooky news’ headline crosses the wires.
notable stock: XOM
Reflective of the sector. Daily momo has turned negative.
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notable stock: OXY
Struggling… the fifth day lower of seven. Daily momo has turned negative.
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Equities: sp’60min
Choppy upside, with structure of a valid bear flag, ahead of a Thursday which will inherently favour the bears.
time to venture out…