As an addition to today's comments on USO
, I have included another look at the 15m chart to give myself and others an idea of why I am thinking a counter trend rally ought to be expected going forward. $37.00 was an important level on the 2 hour chart and indeed a double bottom
seems to be forming at that level. Gap, Fibs, Trend line
and 200sma all suggest a target between $37.75 and $38.00 over coming sessions...