(Click On Chart To Enlarge)
Tops and Bottoms are very difficult to call in stocks/indices that are in a strong trend. USO broke out of a Rectangle on June 26, which put 119.17 IN PLAY. The initial rally got only to 117.46 on July 3, then USO went back below the breakout, and back toward the bottom of the channel. This morning, USO ripped to the upside at the open, disappointing the shorts, and the 119.17 target got MADE in the first minute of trading.
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