Friday, December 18, 2015

[USO] update

At the backlink I was looking for lower prices that I optimistically hoped would eventually bottom in an inclining double bottom.  Of course, those have been rare of late and so I should just quit hoping for them until they begin to come back into style.  But let's not confuse some future hope with a buying decision.  I have only ramped up my buying of the oil patch and UGAZ very recently.  The bottom might already be in as of yesterday with today forming a double bottom that should be a vee since yesterday was rounded.  In any case, I model a reversal to occur within the red circle.
 



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