sapientrade
Short

Double bottom .....or something else?

AMEX:USO   UNITED STATES OIL FUND
24 0 0
Double bottom possibility if not for the ACC/DIST dump occuring. MACD was accurate calling this out with the
reduction in Y axis top of MACD cycles. Furthermore, RSI confirmed early on the possibility of a decline of this nature.

Investments change on the spur of the moment. Presently, I would say the prudent approach would be the sidelines.
Once support is broken, a potential gain can be realized using a short approach
Comment: Neutral at this point.....No position currently.
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