Monday, August 10, 2009

The Oil Bubble got a reprieve.

By: Anthony_Cherniawski

USO crossed below critical support today. There also appears to be a triangle formation that is expanding in the same manner as GLD. The pattern now calls for a decline at least to the bottom of the expanding triangle if not much deeper. It has crossed below critical support at 37.96 and is on a sell signal.

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