The United States Oil Fund
has most likely completed its technical pull back on the 1W scale and has resumed the bullish
bias ( RSI
= 57.828, MACD
= 0.080, Highs/Lows = 0.2614). Being well supported by all the underlying trend lines
, this is probably an early buy signal towards the 16.25 1W Resistance. We are long on USO
with TP = 15.00.
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