Both of these are moving in the direction that this week's analysis has suggested, interestingly it's because of the dollar that USO is down today. You may recall, my short to sub-intermediate outlook for USO has been down, my longer term outlook based on the problems in MENA (Middle East/North Africa) is for USO to gain.
The Dollar I just recently analyzed...
Here and Here
UUP has made a nice move up , well through the signal candle and has started a new leg up.
USO, I've updated several times a day so you should be familiar with my opinions on it. In fact last week I called for a trailing stop on longs that got hit two days ago to take you out of USO. The Trend Chanel will never take you out at the top or bottom, but it will catch the bulk of the trend.
Today USO is down nearly 2%!
In THIS ARTICLE that wrapped up the big picture, I mention the fact that the precious metals, gold and silver are likely to be taken down as well, they are both down today, -1.09% and -2.72% respectively.
It's no time for victory laps, although I'm already hearing from members that are at big profits this early in the morning, it's a good way to start the day.
Lets not let our guard down.
5 years ago
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