11am update - Oil is looking strong

Whilst equities are in the process of turning positive, there is notable strength in Oil, building strong gains of 2.7% in the $57s. The $60 threshold looks due... if not 67/75.. as early as July. With the USD -0.6%, metals are a little higher, Gold +$5.


sp'60min

USO'60min

Summary

*I am certainly bullish Oil, but am adverse to chasing it higher this morning.
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The USD is close to a decisive break of the upward trend from last May.... a break into the DXY 96s will clarify that 93/92s will be hit this summer.. perhaps even 90/87.

In any case... such a move will help Oil into the $70s... and that will really help energy stocks.. and the broader market.

This is no market to be shorting... is it?
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time for an early lunch