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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