March 10, 2009

USO

Nice move up. Looks like bar 1 but closed too close to 50% level. Watch for resistance at 50 day EMA (30.13). Considered long with target at 50 day EMA and stop just below resistance, but risk-reward not good (up ~5.2%, down ~6.8%). 3/9 close 28.65.
3/10 bm

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