Thursday, February 15, 2007

Possible short set-up USO



Possible short set-up here with USO, price has slamed right into the daily 50 EMA resistance. A head and shoulders pattern has developed on the 60 min chart. Price has broken the H&S neckline and is testing the broken uptrendline extending back to 1/18. Looking at short set-up on a breakdown from the downtrendline from the 2/9 high.

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