Friday, March 4, 2011

USO Update

It looks like profit taking here into an unstable weekend and the earlier post about physical delivery vs. rollover.

 The 1 min has struggled all day to confirm the uptrend, it hasn't so I see this as at least profit taking in USO

 The 5 min is negatively divergent, this may be a little more then profit taking.

 The 10 min can't confirm either.

finally, what would have me taking profits, the 60 min which has been in confirmation lately is not today. I'd rather take my profit and have a peaceful weekend here then worry about Monday, or at least take some off the table.

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