Friday, June 25, 2010

Oil, Buy or Sell? USO

We mentioned a couple of months ago that oil was in a trading range. This is the latest graphical analysis by INO's tool.

Long term indicators only, monthly triangles shown, 2 year chart:

The score of +55 is mildly bullish, but note that the last signal is a sell.

Short term, monthly, weekly, and daily triangles shown, 3 months

The last monthly signal is a sell (see above), the last weekly signal is a buy, and the last daily signal is a sell.

This analysis shows major discrepancies. The trading range continues.

Note: To run the tool yourself on any stock, use this link (2 months free, risk-free).

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