Replies to post #4127 on Oil & Gas - Energy - Commodities - Resources (OILBRENT)

[mick]

oil ppb ????? see saw fer now

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Weekly Wrap CRUDE OIL (USO) »» Daily, Weekly & Monthly Charts
By: Carl Swenlin | February 1, 2019

IT Trend Model: NEUTRAL as of 10/29/2018

LT Trend Model: SELL as of 11/23/2018

USO Daily Chart: The rising flag is mostly intact, except for the "outlier" down tick on Monday. I continue to think that this is a weak formation, although I don't anticipate a major reversal.



USO Weekly Chart: Reverse head and shoulders formations, as well as a rising weekly PMO paint a positive picture for crude.



WTIC Monthly Chart: The correction in crude may be over, but it would be nice to see the monthly PMO turn up. For clarity, monthly charts in this issue are dated as of 1/31/19 (Thursday).



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