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Saturday, December 20, 2008

Chart of USO ( U.S. OIL FUND ETF )

This following Chart shows the positive divergence in USO, a good ETF to trade crude oil.
I think Oil is going to move up and if it moves down , the downside is limited.
Notice how it made a lower low but still the macd , the RSI etc. all did not make lower low.
Thats positive divergence, confirming the move up.Thats the reason I feel USO is moving up.

http://stockcharts.com/h-sc/ui?s=USO&p=D&b=5&g=0&id=p92309611985&a=157235155

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