Decision Time for Small-Cap Energy 🌤️ The Morning Print
Good morning!
Crude oil is printing a bullish engulfing candle so far today, attempting to play catch-up within the broader commodity space.
And speaking of catch-up, Large-Cap Energy stocks are on pace to close the week at record highs, while Small-Cap Energy has yet to break out.
Let's take a look.
$60 has been a significant polarity level for Small-Cap Energy ($PSCE).
It previously acted as support on two occasions, before flipping into hard resistance over the past several years.
Levels like this often mark key inflection points, separating failed rallies from durable trend transitions.
With Large-Cap Energy stocks making new all-time highs, investors may begin looking down the cap-scale for higher beta exposure.
A sustained move through $60 would suggest overhead supply has finally been absorbed, and that the group may finally be ready to play catch-up.
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