We are talking US OIL today and some of the trades we have charted. Still holding a long position from 41 that we are comfortable with. Did take some of the position off but still large into it. Correlation stocks for us were: UCO and USO
Good morning, as you can see from the chart we are coming into the last reistance level for WTI Crude oil at 63.3-63.4 range. From there a clean break above and we open up the 66-76 level for oil. Watch in conjunction both USO and UCO as indicators of the strength of the move.
Hope you enjoy this brief overview of the UCO Chart as we look to further levels of resistance and support. We are above both the 50 and 200 MA so well within our parameters for upside.