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Sunday, July 07, 2019 10:14:09 AM
By: Carl Swenlin | July 5, 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: Strange looking chart with price bouncing around between the gaps. You'll notice that the island reversal cluster contains a double bottom, and price fulfilled the double bottom projection based upon last week's high.
USO Weekly Chart: The trading range on WTIC is 42 to 76, and I think that 42 is more likely than 76.
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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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