The very big picture of nearby crude oil prices shows that so far this week the price structure has sliced below the trendline from December 2004 and is heading for a very strong congestion-support zone between $61 and $59/bbl., which should contain the decline off of the July high at $78.40.  Such a move in nearby futures will coincide with a plunge in the USO to the $56.30 target zone.

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