| Followers | 680 |
| Posts | 141209 |
| Boards Moderated | 36 |
| Alias Born | 03/10/2004 |
Sunday, June 18, 2017 9:15:38 AM
By Carl Swenlin | June 17, 2017
CRUDE OIL (USO)
IT Trend Model: NEUTRAL as of 3/8/2017
LT Trend Model: SELL as of 3/9/2017
Another bad week for crude as USO dropped down to levels not seen since August of last year.
On the weekly chart we can see that the one-year support level is being challenged, and $WTIC will have to decline farther in order to reach a corresponding level of support. (To clarify, USO reflects the contract rollover drag that results from maintaining a portfolio of futures contracts, so it will lag a chart of raw contract prices.) The weekly PMO still looks dismal, and it is possible that USO will be challenging long-term support at 7.50. . .
http://stockcharts.com/articles/decisionpoint/2017/06/decisionpoint-weekly-wrap----market-continues-to-churn.html
• DiscoverGold
Click on "In reply to", for Authors past commentaries
*** For Market Direction and Trends visit our board:
https://investorshub.advfn.com/Market-Direction-and-Trends-26249/
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!
• DiscoverGold
Avant Technologies Equipping AI-Managed Data Center with High Performance Computing Systems • AVAI • May 10, 2024 8:00 AM
VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • VAYK • May 9, 2024 9:00 AM
Bantec's Howco Awarded $4.19 Million Dollar U.S. Department of Defense Contract • BANT • May 8, 2024 10:00 AM
Element79 Gold Corp Successfully Closes Maverick Springs Option Agreement • ELEM • May 8, 2024 9:05 AM
Kona Gold Beverages, Inc. Achieves April Revenues Exceeding $586,000 • KGKG • May 8, 2024 8:30 AM
Epazz plans to spin off Galaxy Batteries Inc. • EPAZ • May 8, 2024 7:05 AM
