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IS Crude Oil for Upside Acceleration (Finally)?


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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