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Oil Falls As Oversupply Concerns Resurface

Jeremy Lutz - MarketClub

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Hello MarketClub members everywhere. Oil prices fell on Friday as oversupply concerns resurfaced and the euro and stocks dipped ahead of the first round in a too-close-to-call French presidential election.

After a two-week losing streak, the major indexes are on track to post weekly gains fueled by Thursday's rally, which was largely driven by Treasury Secretary Steven Mnuchin's comments that the Trump administration would unveil a tax reform plan very soon.

A steady stream of strong earnings through the week continued to bolster market sentiment.

Key levels to watch next week:
S&P 500 (CME:SP500): 2,378.36
Dow (INDEX:DJI): 20,887.50
NASDAQ (NASDAQ:COMP): 5,806.73
Gold (FOREX:XAUUSDO): 1,293.80
Crude Oil (NYMEX:CL.M17.E): 53.08
U.S. Dollar (NYBOT:DX.M17.E): 99.29

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