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Upside Continuation Expected in Oil


Don't tell anyone, but the US Oil Trust (USO) appears to have finally inflicted some initial technical damage to the extreme near-term pattern, which now projects prices to continue higher to confront the declining 50 DMA (53.50) and thereafter to confront the series of prior rally peaks (54.40-54.90). My daily and weekly work on the USO are in a very constructive technical condition to support upside continuation to 54.40/90 -- and thereafter to 60-62.
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