Friday, July 25, 2008

USO Oil - United States Oil Fund - Technical Analysis

I have updated my USO Technical Analysis Stock Chart.

Oil has been crushed over the past two weeks as well as natural gas....Oil has hit a key support level of around $124 and I think you could see it atleast stall here if not move higher. Another major support level is $120 for the price of Oil.....this would be around $98 for the USO.

If these support levels are broken....look out below!

I have also updated my Jamer River Coal Chart ( JRCC ) & Ivanhoe Energy Chart ( IVAN )