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Re: DiscoverGold post# 4127

Saturday, 02/02/2019 10:06:37 AM

Saturday, February 02, 2019 10:06:37 AM

Post# of 10759
Weekly Wrap CRUDE OIL (USO) »» Daily, Weekly & Monthly Charts
By: Carl Swenlin | February 1, 2019

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

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

USO Daily Chart: The rising flag is mostly intact, except for the "outlier" down tick on Monday. I continue to think that this is a weak formation, although I don't anticipate a major reversal.



USO Weekly Chart: Reverse head and shoulders formations, as well as a rising weekly PMO paint a positive picture for crude.



WTIC Monthly Chart: The correction in crude may be over, but it would be nice to see the monthly PMO turn up. For clarity, monthly charts in this issue are dated as of 1/31/19 (Thursday).



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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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