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SeaLionLLC
Jun 11, 2014 10:34 PM

$USO hits trendline resistance setting up a reversal 06-11-2014 

United States Oil FundArca

Description

USO continues to form a rising wedge which will ultimately create a larger selloff. Until the larger pattern forms, price's range will tighten in the pattern which is now poised for a selloff. The combination of the spinning top candlestick and the stochastic rolling over will bring lower prices in the near term but not for long as the distance between the rising trend lines continues to narrow.
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