The Energy sector is recovering and that can be considered a rhyme with the state of Bank leadership and long-term yields as noted in yesterday’s update. It’s another ‘reflation’ sector.
XOP is ticking a new recovery high.
XLE is taking back the SMA 50.
USO is in a ‘W’ bounce pattern.
UNG held the SMA 50 and turned up, negating the immediate double top prospect (ref. NFTRH 717).
