US equities are battling to build broad gains. Meanwhile, WTIC is currently -2.2% in the upper $73s. The energy sector ETF of XLE is currently net lower for the week by -0.3% at $92.57.
USO daily
XLE weekly
Summary
WTIC/USO: oil printed $75.08, if cooling back to the $73s… partly pressured by the marginally stronger dollar. Friday’s hollow red reversal candle has failed to play out… despite a positive main market.
Israel is clearly going to strike Iranian oil facilities soon. The market is being grossly complacent. Upside resistance… $78s, and then the $84s.
XLE: energy stocks are a little weak, pulled down by oil. Weekly momentum is increasingly positive though.
notable stock: XOM
Fairing a little better than the sector.
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notable stock: OXY
Fairing a little worse than the sector.
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Equities: sp’60min
Choppy, if printing a new hist’ high of 5859, whilst momentum is flat-lining on the moderately high side. Set for net gains of some degree.