US equities remain very significantly higher. Meanwhile, WTIC is currently -0.7% in the $38s. The energy sector ETF of XLE is currently net higher for the week by +3.8% in the $29.82s.
USO daily
XLE weekly
Summary
WTIC/USO: oil is struggling to the main market, and the weaker dollar, having printed $38.27. Broadly stuck under resistance 42/43s.
XLE: energy stocks holding powerful net gains… but still under the weekly 10MA, as the m/t bearish trend remains intact.
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Equities: sp’60min
Market is naturally churning ahead of the 2pm press release, with Powell due at 2.30pm. We have a divergent lower cycle high relative to yesterday. I’ve added a fib’ retrace…. some cooling to the lower 3400s is probable.