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Crude drops into the close as IEA expresses doubt that Output Freeze could affect supply

WTI CRUDE consolidating near highs ahead of this weekend's Doha meeting-  Not much of a decline even after IEA expressing doubt on effects of any freeze in bringing down supply

Minor drop for WTI into the close, but chart remain constructive, and just a minor slowdown, no real evidence of any majorreversal.

Very good price action out of the Energy stocks and particularly the XLE, with DJIA stocks like XOM and CVX showing very good technical progress

XLEd.png

Very good technical progress in XLE which has broken out above March highs, and XOM and CVX making similar movement which suggests upside continuation in these

XOM showing gradual base which is now giving way to rally

 

Similar movement for CVX which had begun to trend up above prior months highs and should help this extend