USO is slow momentum WINS, and it starts with the 60 minute chart. Below are two different diagrams with both use the 60 minute and I did this on purpose to to show two different outbreaks.
The 45 day graph shows that we have broken from a narrow range of consolidation is very bullish short term. This is confirmed by the RSI and USO to pull back of the RSI on the 40 level can be purchased as long as we can stay on the top line of the box.
I chose to extend the time frame out to show just how this recent breakout is bullish, if you look at the Cup and handle diagram which had formed. It shows also how important that is $38, 40 level in the big picture. What will probably happen a few days of gains followed by a quiet retracement is again around $38.50. I think if the 2-3 day pullback occurs it will be flat and short.
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