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USO appears ready to resume the downward trend possibly within the new few trading days. Other oil and gas stocks (CHK in particular) look like sell candidates too especially with CHK's Death Cross of the 50 and 200 day averages.

The attachment pretty well tells the story for USO. A confirmed intermediate down trend is already in place. An expectation of yet further prices is reasonable. 

A drop to the 200-day moving average from today's closing price is about five percent.

Good trading to all.

 


USO technical analysis chart