Upside Potential in USO

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By Mike Paulenoff | Published 06/18/2007 | Futures , Stocks | Unrated

Upside Potential in USO

Let’s notice that the US Oil Trust (USO) has reversed early weakness and has climbed above a 6-week resistance plateau at 51.00/20, which should unleash the upside potential of a near-term base formation that projects to 53.10/30 and then to 54.50.

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.

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