Thursday, August 26, 2010

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

Smart Scan Chart Analysis continues negative longer term. Look for this market to remain weak. As always trade this strong downtrend with tight 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 Wednesday
-20.....Last Price Below 20 Day Moving Average
-25.....New 3 Week Low, Week Ending August 28th
-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

Just click here for your FREE trend analysis of crude oil ETF USO


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