Once again, despite what looked like a downside reversal that would usher in a pullback, the US Oil Fund (USO) barely declined prior to pivoting to the upside for another pop to new recovery highs. As we speak, the USO is attempting to push above its July-Jan resistance line, which if achieved should trigger upside acceleration to 50 next.





Mike Paulenoff is a 26-year veteran of the financial markets and author of MPTrader.com, a real-time diary of his technical chart analysis and trading alerts on all major markets. For more of Mike Paulenoff, sign up for a free 15-Day trial to his MPTrader Diary by clicking here.