US equities remain choppy, if still leaning positive. Meanwhile, WTIC is currently -3.6% at $84.55. The energy sector ETF of XLE is currently net higher for the week by +0.2% at $57.79.
WTIC, daily
USO daily
XLE weekly
Summary
WTIC/USO: oil printed a low of $83.20. Today’s candle is rather spiky from around key price threshold. Cyclically… the setup favours the bulls for next week.
XLE: energy stocks are lower with oil. Weekly momentum is on the low side. Structure is a giant bullish wedge, and leans for upside across the summer.
notable stock: XOM
Reflective of the sector.
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SPX, 60min
S/t momentum remains on the high side.