USO broke below its intermediate term up trend line last Thursday. Its ADX is turning up, telling the downtrend is picking up strength. Its daily OBV broke below uptrend line. These are all saying USO is intermediate-term bearish.
Its daily full STO is showing oversold, so it may bounce to test resistance at $34.8 before its next leg down. The downside target is $32 (stop for short trade is $35)
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