If USO does not manage to break above $38.5 soon, I believe we will likely see USO trading down within this new red downtrend.
Saturday, June 27, 2009
USO : Oil's New Downtrend ?
One of my favorite sites is The ETF Corner. Great analysis, with easy to understand charts using simple channnels. I never make my daily trade set ups without a quick visit to The ETF Corner. Here is their post from Friday on the USO and crude oil......
If USO does not manage to break above $38.5 soon, I believe we will likely see USO trading down within this new red downtrend.
If USO does not manage to break above $38.5 soon, I believe we will likely see USO trading down within this new red downtrend.
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