OIL/USO certainly performed very well. OIL breaking above the resistance & USO heading to 55.
TRAN is trading at lower TL support.
These factors are not good for market, i.e. higher oil prices, but since markets have oil-based companies, it will help general market performance even though it will eventually hurt consumer pocket for middle class. I heard more people is riding public transportation instead of driving cars to work which is a good trend. We need to develop solar and turbine energy resources. We invented those, but we didn't develop them as much as we should have. So now, euro and Japan is ahead of us in that field.
Have a good trading and enjoy.
TRAN is trading at lower TL support.
These factors are not good for market, i.e. higher oil prices, but since markets have oil-based companies, it will help general market performance even though it will eventually hurt consumer pocket for middle class. I heard more people is riding public transportation instead of driving cars to work which is a good trend. We need to develop solar and turbine energy resources. We invented those, but we didn't develop them as much as we should have. So now, euro and Japan is ahead of us in that field.
Have a good trading and enjoy.
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