Friday, March 09, 2007

Oil Update


I just wanted to post where I am putting my protective stop in oil. If USO were to hit my stop, a double top formation will have formed which would mean USO will probably sell off a bit more...That's why my stop is where it is. I'm bullish on oil, I'm long oil and today it was down $1.61..Nice huh? :-)

1 comment:

Thomas said...

Found support again on it's 20MA
http://stockcharts.com/c-sc/sc?s=USO&p=D&b=5&g=0&i=t89014093470&r=3916

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