sp'60min
sp'daily5
Summary
Price action is much like last Thursday afternoon, as we have two hourly candles offering a clear spike-floor of sp'2052.
To break declining trend/resistance, need a daily close >2065.. which looks probable.
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notable strength/reversals from opening lows...
CNX +5.8%, from -2%
RIG +0.9%, from -2%
The interesting scenario would be how the Oil market might react if there is a net draw down in the next inventory reports.
As of 10.56am... Oil is +0.7%... having swung from -2.3% (or so)... key floor?
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Meanwhile... in London city
Another reasonable late afternoon in early December. Very wintry skies, but way too mild (11c) for snow. Indeed, so far this winter, its felt broadly mild... bearish UK energy/utilities?
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time to cook
11.01am... Oil soaring... from -2.3%... now +1.7%.. and that sure is helping the broader market recover.
More crazy swings!