After four days of going down, XP is up 1.78% today

After ending yesterday at $22.45, XP is currently trading at $22.85.

United States's Crude Oil Inventories new data released of -9.60 million below its previous figure.

XP's uptick comes amid good United States macroeconomic data released during the day — United States Consumer Confidence came out at 109.7, better than analyst estimates of 104 and improving upon the previous reading of 102.5.

On the flip side, Crude Oil Inventories in United States fell short of market expectations (-1.76 million) with a reading of -9.60 million, continuing the decline from the previous figure of -3.83 million.

Meanwhile, United States New Home Sales (May) came out at 763,000, while a consensus of analysts was expecting 675,000.

Although up today, early price action saw XP Inc. dropping below its 10 day Simple Moving Average at $22.63 — an early indicator that a new downward trend could be emerging. XP could be slowing down soon as it approaches resistance at $23. Of course, crossing it might suggest further gains are ahead.

XP is likely to reverse course and start pointing downward in the short term.

At the same time, after closing the previous session (yesterday) at $95.05, Royal Bank Of Canada lost $1.05 and is trading around $94. After closing the previous session (yesterday) at $91.33, The Blackstone Group Inc. lost 86 cents and is trading around $90.47. Wells Fargo & Company is down to $40.66, losing 0.62%, after ending yesterday at $40.91.

Also worthy of note, United States GDP projected to decline to 1.4 while previous data was 2.6; data will be released tomorrow at 12:30 UTC. Tomorrow at 12:30 UTC data for United States Initial Jobless Claims will be released, with an expected decline to 266,000 from the preceding figure of 264,000.

Furthermore, the market is looking at United States Fed Chair Powell speech will be released tomorrow at 06:30 UTC.

The stock has been trending positively for about 3 months. The past 3 months have been positive for the Brazilian investment management company as it added 100.09% compared to its 3-month low of $10.65.