US equities remain in minor chop mode. Meanwhile, WTIC is currently +2.1% in the $45s. The energy sector ETF of XLE is currently net lower for the week by -1.0% in the $38.51s.
USO daily
XLE weekly
Summary
WTIC/USO: oil printed $43.92, but has already swung upward to the $45s. S/t price structure is a bull flag. A run to psy’50 appears probable, with secondary of the $52s.
XLE: energy stocks opened a little weak, but have swung powerfully upward. Soft target are the June $45s.
notable stock: SLB
An opening reversal, but now holding powerful gains… as the baby bull flag is playing out. Soft target 28/29s, secondary 38/39s.
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Equities: sp’60min
S/t momentum remains fractionally positive. There will be threat of a secondary wave lower this afternoon, and it might carry across into early Thursday. Broadly though, its all chop… much like last Friday/Monday.