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Weekly Wrap - Crude Oil (USO) »» Daily, Weekly Charts
By: Carl Swenlin | July 26, 2019

CRUDE OIL (USO)

IT Trend Model: NEUTRAL as of 5/30/2019

LT Trend Model: SELL as of 6/4/2019

USO Daily Chart: A double top broke down and filled the June up gap. Currently, price seems indecisive and the daily PMO is neutral.



USO Weekly Chart: Both USO and WTIC are being squeezed into a corkscrew. When those formations are resolved, I expect that the current trading ranges will still dominate price movement.



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