06.02.2009 - Crude oil USO ETF advances off of new all-time low
From Marketoracle.co.uk: The US Oil Fund ETF is showing interesting strength today after making a new all-time low this morning. As we speak the USO is pushing against initial key near-term resistance at 29.00, which if hurdled should trigger upside follow-through to test more important resistance at the prior recovery rally peak of 29.50. If such a scenario unfolds, then the confrontation at 29.50 will determine if the USO has established a very significant intermediate-term low..... Full Article: Source
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