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Friday, December 20, 2019 7:41:45 PM
By: Carl Swenlin | December 20, 2019
* (Click Read Full Story »»» at the bottom of the page for the charts to appear on the post)
CRUDE OIL (USO)
IT Trend Model: BUY as of 11/6/2019
LT Trend Model: SELL as of 6/4/2019
USO Daily Chart: It appears that price is getting ready to move down to the bottom of the trading range -- about 10.50.
USO Weekly Chart: The most narrow WTIC range is 51 to 61, and the broader range is 42 to 67. My expectation is that the narrow range will prevail until some major news hits. I have no idea what that might be.
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