Friday, November 20, 2009

OIL Futures & USO

OIL Futures - a close up look at a nice box play on a daily chart... If you asked me to guess which way, I would say long... If you notice the breakout bar to the downside was immediately taken out the very next day and has held since... Hope it helps
This looks like a PERFECT bull flag, so a break above 41.16 would be a long for me... But because I favor the futures I will take this setup on the oil futures... Hope it helps

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