POO is down currently, WTI off about 3% but I would not pull out of SXY and move to the petrol/ toll road/ airline/ airport/ cruise line/ rail road companies/ midstream/ downstream and telcos just yet. Seems an exhaustion gap in POO holding WTI above $50, next stop should be $60s or something.
So I would favor upstream on the buy on the dip scenario but the market will no doubt pile into QAN, AIZ, SYD, AIA, APA, AGL, ORG, APA, TLS and SPK 2day but it should be SXY's day 2morrow and the next IMHO but pls DYOR.
Bearish exhaustion gaps are generally bad for bears, good for bulls IMHO but pls DYOR.
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