There's quite a gap there so it's pretty tough to tell at this point where this may land. I think the best shot will be to look for a positive divergence, especially if one forms on this break of intraday support.
Tuesday, May 24, 2011
USO pullback
I was asked about a USO pullback and before I could capture all the screen shots, there it was.
Daily chart just poked above the breakout level.
On the 1 min chart, you see the poke above, support and the high volume break of support.
There's quite a gap there so it's pretty tough to tell at this point where this may land. I think the best shot will be to look for a positive divergence, especially if one forms on this break of intraday support.
There's quite a gap there so it's pretty tough to tell at this point where this may land. I think the best shot will be to look for a positive divergence, especially if one forms on this break of intraday support.
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