Saturday, June 13, 2009
USO - the rally.
You can see here the twin A-B-C patterns I am using for this USO calculation. The Exponential Charts with blue titles are generated from the blue A-B-C pattern, the lone red titled chart is obviously from the red A-B-C pattern. A pullback in this commodity could happen here (note crossover on first chart, and trendline touches elsewhere), but we are not close to any .500 or 1.000 nodes anywhere, so the rally has more time to grow....
The left edge of all of the exponential charts is (time-wise) the date of the vertical magenta line on the Bigcharts original chart of USO at the bottom.