Where is USO headed? Smart Scan Chart Analysis is showing an uptrend with some near term weakness. However, this market remains in the confines of a longer term uptrend. Trade the uptrend with tight money management stops. Based on a pre-defined weighted trend formula for chart analysis, USO scored +70 on a scale from -100 (strong downtrend) to +100 (strong uptrend):
+10......Last Hour Close Above 5 Hour Moving Average
+15......New 3 Day High on Thursday
+20......Last Price Above 20 Day Moving Average
+25......New 3 Week High, Week Ending June 12th
-30......New 3 Month Low in May
+70......Total Score
Here is a preview of our MarketClub Trade Triangle Chart Analysis and Smart Scan technology
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