sp'60min
WTIC oil, weekly2
Summary
*note the upper weekly bollinger band for Oil in the $44s. Any price action >$45 looks out of range.
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A daily close in the sp'2060s looks very viable today... not least if Oil can rally, despite another giant weekly inventory surplus. (API report was 8.8 million barrels).
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re: metals. Gold is interesting, back in the $1220s... a natural retrace would be 1200/1180 zone.
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notable early weakness, mining stocks, GDX -2.8%.
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Overnight action
Japan: -0.3% @ 17000
China: +0.3% @ 3009
Germany: currently +1.1% @ 10097.
A break >10k, next level is the 10MA resistance in the 10400s.
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Have a good Wednesday
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9.14am.. Oil -2%.... battling to hold the $40 threshold. Equity bulls should be somewhat concerned.
sp -4pts.. now set to open at 2045.
Gold -$25, miners really getting smashed, GDX -3.8%.