US equities remain moderately higher. Meanwhile, WTIC is currently +0.9% in the $73s. The energy sector ETF of XLE is currently net higher for the week by +2.8% at $55.17.
USO daily
XLE weekly
Summary
WTIC/USO: oil printed $73.81, helped by the positive main market. Next resistance are the 74/75s, with the 50dma in the 76s. Set for a net weekly gain of around +4.0%.
XLE: energy stocks leaning upward, set for a very sig’ net weekly gain, if still under the weekly 10MA. Momentum remains negative, but should turn positive in early January.
*I comfortably hold OXY, SLB, MRO, RIG, KMI, XOM
notable stock: KMI
Kinder Morgan pushing upward, it’d be useful to see the $17s before year end… but that does look a stretch.
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Equities: sp’60min
S/t momentum is subtly weakening, if still on the strongly positive side. We can’t expect anything other than minor chop this afternoon.