The action during the past couple of sessions in the U.S. Oil Trust (USO) as well as in crude off of the September 28 high at 64.25 represents another bullish consolidation within the dominant uptrend rather than a near-term top, and indicates strongly that another upleg may have started off of the Sept-Oct double-bottom lows near 60.20, which projects to a test and hurdle of 64.25. Only a break below 60.00 will compromise my near-term constructive outlook.



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