From yesterday's USO update
"I think we are getting close to a resolution. If we get a breakout that is solid and 3C improves, then I see no reason USO shouldn't continue higher. The other prospect and the one I have felt is more probable is a breakout of the triangle today that fails and sends USO back into the flag, where it is accumulated and then makes a proper breakout with some volume and 3C support. Either way, I think we are finally nearing a resolution. In addition, either way, I still remain bullish on USO's intermediate term prospects."
USO has finally resolved and to the downside as expected. Now we'll have to keep an eye on USO for accumulation and a second shot at the bull flag resistance t is currently sitting under.
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