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Friday, June 02, 2017 9:00:07 AM
By Erin Heim | June 1, 2017
CRUDE OIL (USO)
IT Trend Model: NEUTRAL as of 3/8/2017
LT Trend Model: SELL as of 3/9/2017
Nothing positive to say about Oil right now. The PMO is nearing a SELL signal below the zero line which is especially bearish. The Trend Models are configured as negatively as they are able with the fast moving EMAs on the bottom and the slowest on the top. The SCTR has fallen even before it was able to recover. Good news is that Oil is near support around $47 and that could certainly hold up. If the PMO doesn't improve, then we could be headed to test the May lows. . .
http://stockcharts.com/articles/decisionpoint/2017/06/dp-alert-rally-pop-internal-strength-prevails---sp-600-ijr-new-ittm-buy-signal.html
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Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
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