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United States Oil Fund
Long

USO shows Ascending Triangle Pattern, Possible Breakout Imminent

87
USO is displaying an Ascending Triangle Pattern, a bullish formation. Its current price is $83, and if there is s sustained move above this with high volume in the coming days, the target price for profit taking should be around $97. Oil is a generally good long play due to a shortage of supply worldwide and increased demand for electricity coming this summer.
TC85
Chart PatternsTechnical IndicatorsTrend Analysis

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Chart PatternsTechnical IndicatorsTrend Analysis
TC85

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.