USO Update

Yesterday I showed you USO bumping up against resistance with negative divergences and suggested USO would pullback, that happened this morning, although not quite as deep as  had though (I was off by about by about $.41), but it still pulled back nearly a point.

 This morning saw a healthy positive 5 min divergence right on the open and USO has been trending higher since. I'm not sure USO will crack resistance today, but....


The 60 min chart looks pretty darn bullish and I do think USO will break through resistance to move further north shortly.