Tuesday, October 9, 2012

UCO Took Out Gap Resistance +5.5% Today

UCO is still moving well, oil must really have been ready for a move, especially with geo-political events (Turkey/Syria), you don't usually see moves like this on a stronger dollar.

UCO powered right through what is usually resistance at the gap. Considering the size of the base, I'd think UCO has a lot more upside in the day and perhaps weeks to come. I'm thinking $35-$36

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