Let's take a look at the weekly chart of oil and what it means moving forward.
Let's take a look at the weekly chart of oil and what it means moving forward.
And lets just say shorting it at this point is a high risk trade simply because it has broken through one resistance level and is challenging another right now that, once broken leaves plenty of upside for the commodity to run with.
Here's the Support and Resistance on USO you should be concerning yourself with:
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