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DiscoverGold   Saturday, 07/13/19 10:10:52 AM
Re: DiscoverGold post# 4273
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Weekly Wrap - Crude Oil (USO) »» Daily, Weekly Charts
By: Carl Swenlin | July 12, 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: This week price broke above a declining tops line drawn from the April top, and it also closed the May down gap. This positive action implies that USO will be moving still higher. Note that the 20EMA is about to cross up through the 50EMA, which will generate an IT Trend Model BUY signal.



USO Weekly Chart: Crude (WTIC) in midway a trading range of 42 to 76, and USO maintains a similar range. I continue to believe that price will not escape that range any time soon.



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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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