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Saturday, January 19, 2019 10:28:04 AM
By: Carl Swenlin | January 18, 2019
IT Trend Model: NEUTRAL as of 10/29/2018
LT Trend Model: SELL as of 11/23/2018
USO Daily Chart: The falling wedge drawn from the October top resolved to the upside, as expected, and price has rallied +23% from the December low. The daily PMO confirms obvious strength.
USO Weekly Chart: Both USO and WTIC are approaching overhead resistance, but the weekly PMO has bottomed, indicating that resistance is not likely to be a problem.
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