OPEC+ is expected to increase production by another 400,000 bpd in today’s meeting, another dagger in the heart of the stubborn oil/gas rally. Of course, at this juncture, CL can backtest its SMA200 without even making a lower low. So, perhaps a pullback will finally be allowed.

Given how important rising oil/gas prices have been to equity performance, stocks might just have a hard time digesting a significant pullback.

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