Tuesday, March 1, 2011

Quick SLV/USO Update

SLV is significantly more complicated, but lets take a look at the short term in the moves up in both today.

 Posible negative divergence in SLV, the gap wasn't that big so we want to watch and see if this develops more.

USO has been trading in line with price, which is good. We can still have pullbacks intraday, but so long as we aren't seeing distribution, I'm still liking the move up in USO.

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