AMEX:USO   UNITED STATES OIL FUND
18 0 0
Corrective Elliott Wave pattern nearing completion. Note also positive divergence forming on MACD . Future impulsive rally thru 16.20 will indicate significant low is complete. A corrective 3-wave pull-back from a 5-wave move over 16.20 will set up a long entry with stop at coming low. Confirmation comes with price moving higher than initial 5-wave rally high.

See also hourly and weekly analysis.

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