US equities have built very significant gains. Meanwhile, WTIC is currently +1.7% in the $104s. The energy sector ETF of XLE is currently net higher for the week by +0.4% at $76.48.
USO daily
XLE weekly
Summary
WTIC/USO: oil printed $104.97… partly helped by the positive main market. Today’s perform’ is more impressive considering the stronger dollar. Things turn interesting with a daily close >$110.
XLE: energy stocks choppy with the main market. Bulls need to hold above the weekly 10MA.
notable stock: KMI
Higher with the sector. Cyclically low, as the setup favours the bulls into early May.
notable stock: RIG
Higher with the sector. Today’s candle is bullish engulfing. I’d like to bail on this >$4.50 or so.
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Equities: sp’60min
A burst upward. No news I’m aware of. Purple gap to be tested. Big target 4380/90s.