Followers | 680 |
Posts | 141193 |
Boards Moderated | 36 |
Alias Born | 03/10/2004 |
Saturday, August 05, 2017 10:33:55 AM
By Carl Swenlin | August 4, 2017
CRUDE OIL (USO)
IT Trend Model: BUY as of 8/1/2017
LT Trend Model: SELL as of 3/9/2017
USO has resolved a bearish rising wedge (blue lines) with an upside breakout. An IT Trend Model BUY signal followed on Tuesday when the 20EMA crossed up through the 50EMA. Price is now consolidating below a declining tops line. The PMO is somewhat overbought, but I think that another breakout will take place soon.
The declining tops line seen on the USO daily chart is shown in better perspective on this weekly chart. The weekly PMO is rising, but it is still below the signal line.
http://stockcharts.com/articles/decisionpoint/2017/08/dp-weekly-wrap-top.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