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Saturday, December 26, 2020 8:48:46 AM
By: Erin Swenlin | December 25, 2020
* (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 10/20/2020
LT Trend Model: SELL as of 2/3/2020
USO Daily Chart: The pullback in Oil continued today with another deep decline. The RSI is still positive, but the PMO has topped and could generate a crossover SELL signal rather quickly. However, I'm not that bearish on USO given that price is maintaining above the 20-EMA, just like it is on $WTIC.
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