Tuesday, June 21, 2011

USO Update

It looks like USO is overcoming resistance.

 3C continued its positive divergence, note that USO made an attempt at resistance, failed, fell back and regrouped on another positive divergence and pushed through on some volume as seen below. I'd probably use a trailing stop such as the uptrend line drawn in.


If you bought UCO at the time of the last update, you'd have a 2% gain on the trade in a few hours thus far.

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