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TC85

USO shows Ascending Triangle Pattern, Possible Breakout Imminent

Long
United States Oil Fund (AMEX:USO)  
TC85  
AMEX:USO   United States Oil Fund
Chart Patterns Technical Indicators Trend Analysis
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chartpattern indicator trendanalysis
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.
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