USO Breakout Rejected at Resistance Trend Line- Indicators Bleak
Updated
Price briefly pierced resistance, although, this was promptly rejected during the US regular session hours. Concerning indicators, the RSI uptrend appears to be broken to the downside- same with the ROC uptrend. Concurrently, the MACD just turned negative. My short-term price targets are $10.90 and then $10.50.
Comment
The price has fought back more than I thought it would.. I think a retest of resistance is now in store.
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