Tuesday, September 14, 2010

USO update

USO's price action intraday is pretty ugly, it looks to have filled the gap, which lessens the chance for a break away upside move. Volume is getting ugly, 3C is ugly, and it looks to be a false upside breakout of a bearish ascending wedge. If I was looking for shorts in oil, I'd probably start getting my toes wet now.

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