Demand is trending at a steady 1.5% YoY, the decline was entirely driven by supply-side shocks. The OPEC rhetoric to cut production is favorable for price big picture but the chart is suggesting lower first into an ideal target of $48.
The energy sector has been performing badly over recent months, but not as bad as basic materials sector. Specifically leading the problem in the energy sector are oil & gas drilling, oil & gas exploration and production, oil & gas refining and marketing, oil-related service and equipment, renewable energy equipment & services, and uranium industries. These...
Looking like the dollar crossing the daily trend line is a failed rally. More down side to come in the very very near future.
Well, at least not all sectors in out right sell mod coming into Monday. There is some hope the accelerated down trend will take a reprieve. I did for get to show XLF and XLB. They both are still lagging other indices. Bottom line XLU, XLK and XLE looking better. XLY, XLI, and XLV ugly. IWM looks best for a trend reversal Monday. Please leave comments below...