USO update

I haven't seen the DOE inventories report yet, it's being released at 11 a.m. due to the holiday, so I'll fill you in when I find out the results.

 USO gained a foothold, of course right about the time it broke a support level, the divergence was strongest on the 1 min chart.

 And there are the stops being run, and accumulated on the cheap.

However, the larger problem and the one that has me staying out of any long term crude trades right now is the disappointing 3C charts from 5 mins and longer like this 10 min negative divergence. We'll see if there's a short term trade off the inventories, I imagine this 1 min positive divergence may be it, if so, then the DOE report was most probably leaked as we have seen many times.