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Wednesday, October 07, 2020 10:20:23 AM
By: Erin Swenlin | October 6, 2020
CRUDE OIL (USO)
IT Trend Model: SELL as of 9/8/2020
LT Trend Model: SELL as of 2/3/2020
USO Daily Chart: Huge uptick in Oil yesterday and again today. It doesn't change the price chart much, but it does appear we will see a move back to the top of the trading range. In yesterday's DecisionPoint Show we discussed some of the areas we are "stalking" in Energy. I do want to point out on the 6-month chart below that the 200-EMA is finally becoming visible in the upper left-hand corner. Talk about 'beat down'!
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