Oil ETF Hits Major Double Top, Expect A Pull-Back
InTheMoneyStocks.com | Jan 04, 2018 01:20PM ET
United States Oil Fund (NYSE:USO) finally hit a double top at $12.42, correlating perfectly with the $62.20 major pivot high on crude oil from 2015. The odds now favor a pull back in crude oil for the next week or two. Watch for a retrace back to perhaps as low as $55. If that happens, USO could see $10.50 or lower.
I'm playing this with the 2x short ETF SCO.
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