USO at 200DMA, observing resistanceDefinitely bearish feelings here, $DXY has found support the past week and along with the small recent USD rally we find $USO has run up against the 200DMA.
The 10DMA (drawn in blue) has provided support in the past, so waiting for a break down there would be wise IMHO, although I suspect we're about to roll out the red carpet soon.
The previous oil chart I did calling for a short bounce lasted longer than I suspected, as $DXY has been weak since the beginning of the year and has just started to find something that resembles strength.
Thanks for reading, good luck to all
