sp'60min
USO'daily2
Summary
I don't expect the same degree of price volatility that we saw yesterday.
What would be most surprising would be if the market can just push straight higher today.
Far more probable... broad chop all the way to next Wednesday.
-
As a fair few have noticed, energy stocks are making repeated attempts to build a key floor
APC +0.3%
It is a rather bizarre thought that the $60 threshold is almost 20% higher.
--
RIG +0.1%
SDRL +3.5%...
As for Oil itself.. even the $40 threshold looks difficult... not least after the way the market reacted yesterday.. despite a net draw of -3.6 million barrels.
*WTIC broke a new multi-year low of $36.52 in early trading.