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IS Crude Oil for Upside Acceleration (Finally)?


Tuesday June 23rd, 2015
IS Crude Oil for Upside Acceleration (Finally)?
by Mike Paulenoff www.MPTrader.com

Is the United States Oil ETF (USO) about to explode to the upside?

Well, let's put it this way: Oil has the right pattern and the right set-up to rocket $4 to $5 -- to $65 to $66/bbl, and perhaps to $68 - $70 on an "emotional" overshoot of the more conservative target zone towards its upper-channel resistance line of it March-June bullish-price channel.

Today's strength certainly has the makings of a lift off stage, but unless and until Oil hurdles and sustains above $61.80-$62.20 resistance, we wait and watch-- and stay long USO.

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