Thursday, July 8, 2010

Smart Scan Chart Analysis For Crude Oil ETF....USO

Our Smart Scan Chart Analysis for crude oil ETF....USO, continues negative longer term. Look for this market to remain weak. Strong Downtrend with money management stops. A triangle indicates the presence of a very strong trend that is being driven by strong forces and insiders. Based on a pre-defined weighted trend formula for chart analysis, USO scored -90 on a scale from -100 (strong downtrend) to +100 (strong uptrend):

+10.....Last Hour Close Above 5 Hour Moving Average
-15.....New 3 Day Low on Tuesday
-20.....Last Price Below 20 Day Moving Average
-25.....New 3 Week Low, Week Ending July 10th
-30.....New 3 Month Low in May
-90.....Total Score

Here is a preview of our MarketClub Trade Triangle Chart Analysis and Smart Scan technology


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