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Re: DiscoverGold post# 4123

Saturday, 01/26/2019 2:30:11 PM

Saturday, January 26, 2019 2:30:11 PM

Post# of 10729
Weekly Wrap CRUDE OIL (USO) »» Daily & Weekly Charts
By: Carl Swenlin | January 25, 2019

IT Trend Model: NEUTRAL as of 10/29/2018

LT Trend Model: SELL as of 11/23/2018

USO Daily Chart: A rising flag has formed, which I expect to resolve downward. A move back toward 10.50 would be constructive, and then a rally resumption would give us a pretty tidy reverse head and shoulders with an upside target of about 13.50.



USO Weekly Chart: Crude ($WTIC) has run into resistance at $50, but it may be forming the right shoulder of a potential reverse head and shoulders pattern. The weekly PMO has bottomed, which is positive.



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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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