US equities remain in chop mode. Meanwhile, WTIC is currently -0.7% in the $41s. The energy sector ETF of XLE is currently net higher for the week by +4.3% in the $35.33s.
USO daily
XLE weekly
Summary
WTIC/USO: oil printed $41.26, largely pressured by the main market, and a slightly stronger dollar. Still broadly stuck. Any price action >44.00 would be decisive, and offer a run to psy’50, with secondary of the 52s.
XLE: energy stocks set for a third consecutive net weekly gain, as the m/t bearish trend concluded last week.
notable stock: XOM
Yesterday’s bearish engulfing candle played out, but Exxon is still on track to test the 200dma.
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Equities: sp’60min
S/t momentum is on the low side. Expect considerable chop… all the way into the weekend.