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Crude Oil (USO) - Weekly Wrap »» Daily-Weekly-Monthly Charts
By: Carl Swenlin | September 27, 2019

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CRUDE OIL (USO)

IT Trend Model: BUY as of 9/16/2019

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

USO Daily Chart: Price is in the middle of the trading range and the daily PMO has topped. I would expect a decline to the bottom of the range (10.50).



USO Weekly Chart: USO and WTIC are back inside the triangle formations, which are about to become irrelevant when price moves sideways through the apex.



USO Monthly Chart: I think it will take unexpected bad news to get price above the basing range it has maintained for four years.



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