sp'60min
USO' daily2
Summary
re: Oil, we have a clear short term floor, but again - as is also the case for the metals, supply remains the underlying issue. Regardless of any near term upside.... energy prices are set to remain subdued into 2016.
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Without getting lost in the minor noise within equity land, we do have an interesting setup for the rest of today.
Hourly equity cycles set to turn bearish before the close... but price structure offers yet another bull flag.
Maybe the two will cancel each other out... not least as its opex.. which by definition should be more choppy than normal.
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notable weakness, miners, GDX -3.2%.. as Gold -$4 and Silver -0.9%
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back at 3pm