After breaking out of its recent base, oil has been on a roll, breaking out of its rising channel and crushing the hopes and dreams of bears wanting to see $20 oil. Now the question is, does the bears have a renewed sense of hope here with a possible break in the rising trend-line? We
Check out the chart below to see what I am watching on the USO play. Some good developments unfolding for the bulls, but still remains on shaky ground until it can prove itself. Here’s the technical analysis on USO:
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