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USO Crude Oil Breaks Below Trading Range

USO (crude oil ETN) has fallen below the recent trading range, a near-term bearish technical event. However, this breakdown may prove to be short-lived (i.e.- a bear trap) as USO still has potential bullish divergences setting up. Sitting tight on the recent UWTI long trade for now. Additional updates to follow.

USO crude oil etn chart

USO 60-minute Dec 2nd

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Dec 2, 2015 10:42am|Categories: Completed Trades - Long, Gold & Commodities|Tags: , , |Comments Off on USO Crude Oil Breaks Below Trading Range