Monday, April 16, 2012

USO moving on weaker dollar

Earlier today I added some USO $38 calls on the break of support this a.m.,

 USO has moved back above the former resistance trendline broken earlier today.

 The 2 min chart is confirming with a leading positive divergence.

The 5 min chart is really why I added.

The same dollar weakness or relative weakness compared to earlier, that is helping USO, should have the same effect on equities.

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