USO still strong on Libyan Bombing

Gadhafi has bombed near an oil facility that is in fairly secure rebel territory in Brega. It seems Gadhafi is thinking longer term and wants to perhaps cut off any monetary value the rebels could gain in fighting him if they were to control and make a deal to export oil to Europe, in essence there are at least 6 tribal clans, 4 very important and Gadhafi is seemingly expecting a protracted civil war.

Meanwhile robert Gates warns that the US will have to attack Libya in establishing a no fly zone- Remember Iraq burning in the first gulf war, europe can't afford that. I think what Gates says or hints at is nothing compared to the naval/air force and marine amphibious assets they are putting in place. This is nothing but trouble from start to finish, even after Gadhafi is kicked out of power, the clans will struggle much like the Shiite's/Sunnis/Kurds in Iraq and while we mention Kurds, look for trouble in Turkey soon between turkish forces and Kurd rebels as this conflict moves closer and closer into Eastern europe, a very bad place for flash points.

In the meantime, USO should continue to gain on it's breakout, 3C is backing the move fairly well with only a little bit of a negative on the 1 min which may be profit taking or just nothing. The 5 min is confirming the breakout move.

Should the US/Nato get involved in Libya, watch out for unintended consequences, Al Qaeda got all juiced up from the US using Saudi Arabia as a basing point for the first Iraq war, there are sensitivities there towards Americans killing Arabs and Muslims, even those they they may not particularly care for.

 USO daily breakout of resistance, volume looks to be on the way to a higher high. Thus far, USO has acted exactly as we have thought for the last nearly week. Kudos to you all trading USO. I love to see my members fishing.

 USO intraday move-most likely in response to the bombing.


 The accumulation zone on a 15 min 3C chart

USO 5 min 3c confirmation

By the way, Rep. Meeks just said Chis-ims-is that how you pronounce Chasm? Just wondering, I'm not one to criticize.