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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (39110)	10/18/2012 12:37:57 PM
From: Keith Feral	Read Replies (1) \| Respond to of 218779

If oil can just drift sideways to lower for another week or so, it will look awful on the 1 year chart using USO. If it stays put around $34, the one year chart would be downward sloping from $36 to $34. Everyone is looking for an excuse to push oil prices lower, and I think they will get the opportunity to take oil prices back under $90. November could be a wreck for oil prices, kind of like May. I'm certainly keeping my fingers crossed for a push back towards $85. That should carve out some better growth in Q4.