US equities are broadly lower. Meanwhile, WTIC is currently +5.9% at $75.63. The energy sector ETF of XLE is currently net higher for the week by +2.8% at $56.60.
WTIC, daily
XLE weekly
Summary
WTIC: oil has powered up to $75.21. Next resistance… psy’80, and more so… 81/84 zone. I’d be surprised if we break above the latter.
XLE: energy stocks are strongly higher with oil. Weekly momentum started ticking upward last week, and we’re getting bullish follow through.
notable stock: XOM
Reflective of the sector
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notable stock: PBR
Petrobras is my favourite, of the non-US based energy stocks, having recently floored from just above the 200dma
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Equities: sp’60min
We’re set for net daily declines of some degree.
In theory, Tuesday should be red… at least for some of the day.
time for a much needed lunch