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DiscoverGold   Sunday, 06/30/19 10:00:47 AM
Re: DiscoverGold post# 4259
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Weekly Wrap - Crude Oil (USO) »» Daily, Weekly & Monthly Charts
By: Carl Swenlin | June 28, 2019

CRUDE OIL (USO)

IT Trend Model: NEUTRAL as of 5/30/2019

LT Trend Model: SELL as of 6/4/2019

USO Daily Chart: In its move up USO has produced gaps that more or less correspond to the gaps it made coming down. The daily PMO allows for higher prices, but I think the April top is probably the upside limit, unless news becomes more threatening.



USO Weekly Chart: The USO weekly PMO allows for a move higher, and the three-year range for crude implies a potential upside of $76.



USO Monthly Chart: The monthly PMO is about neutral, and it offers no encouragement to bulls.



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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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