Were down, anyone remember the rally in oil "The improbable rally" that 3C called in the face of data that showed no reason for a rally? Well we get out first drop in awhile and USO is selling off right now. Recall last night I said I saw nothing other then a 1 -min positive divergence to suggest a move up in oil. Well 3C seems to be working like a well oiled machine. The 1-minute fits with the gap up, the rest of what had been seen fits with the sell-off in USO that started around 11 a.m.
Still there may be an opportunity like the "improbable rally when oil sold off and we bought the lows on a 3C positive divergence. So it's worth watching.
5 years ago
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