USO & DIG Oil ETF’s….OIL

A close today above 35.88 puts in an outside reversal day to the upside. If the equity indices are going to remain firm, this will be a place to look.

Also, Dig now starts to look interesting again. Support is now 48.12- 35 which is a potential weekly double bottom matching the 200 mvg. Avg.

If the stocks keep going I would be hard pressed to think the Oil will break much. In fact this has a potential weekly double bottom pattern as well @ 89.60 ish.

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