sp'daily5
USO, 60min
Summary
*yes yes... I will probably highlight Oil (via USO) most hours in the days ahead, and we're already half way to target for a long-entry.
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So.. with EIA offering a 10.9 million barrel surplus in Oil, we're seeing some broader market problems.
On balance, it looks like a daily close >2088/89 is now out of range... and bears will get another chance at taking out the key low of sp'2039.
... at least today is not dull!
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notable weakness: oil/ gas drillers, RIG/SDRL, both lower by around -2%
11.24am.. minor bounce to sp'2080... but still.. its looking weak.
Oil remains unravelling, -3.8%