December Crude and USO
Let's talk about crude oil and the United States Oil (USO) exchange-traded fund.
The crude chart will be more accurate for my timing work, and I will give you some parameters in the USO ETF as far as the price work is concerned for your possible trading entries. The daily trend is still down here as the price pattern is currently one of lower lows and lower highs. Price is also below the 200- and 50-day simple moving averages and the May 13 exponential moving averages on the daily chart are still suggesting that the bears are in control. We are in the position, however, to see a bit of a countertrend rally in this one due to a few factors. First Crude has extended more than 1.272 of it's prior swing up, along with the fact that I have some Fibonacci timing parameters illustrated on the daily crude oil chart. These cycles come in between Oct. 29-31. ...359 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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