US equities remain mostly (transports is marginally positive) leaning a little weak. Meanwhile, WTIC is currently +2.9% in the upper $71s. The energy sector ETF of XLE is currently net higher for the week by +0.3% at $90.66.
USO daily
XLE weekly
Summary
WTIC/USO: oil is higher for a second day, having just recently printed $72.09. Soft upside resistance are the $77s, where the 200dma and upper daily bollinger are. Any price action >$79 would break the m/t series of lower highs and lower lows.
XLE: energy stocks are battling to hold moderate gains, helped by oil.
notable stock: XOM
Reflective of the sector. Cyclically low.
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notable stock: OXY
Still m/t bearish from the April $70s. I continue to wonder if Berkshire will add, or wait for a main market washout… whenever that might occur.
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Equities: sp’60min
Chop chop… if clawing back upward.
The s/t cyclical setup favours the bulls.