Crude oil has fallen back down through the 75 level now. Potentially erasing the break out seen from the the ascending triangle pattern in crude at $75. Sometimes these patterns see throw backs so violent they actually get halfway down in the ascending triangle base and then snap back up. Keeping the pattern valid. At the current moment with the Dubai news shaking the world markets crude finds itself trading in the high 73s. SCO should be the big beneficiary from this action during Friday's shortened trade. We'll have to see if 75 becomes resistance now in crude going forward.
UCO / USO / UHN / ERX / DIG should get hammered Friday.
SCO / ERY / DUG should move up nicely, and potentially trend for a few sessions.
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This blog is a collection of my analysis derived from many sources. All opinions are for entertainment and educational purposes only. All investment decisions should be cleared with your own investment advisor.
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