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Oil Having A Bubbling Day As It Trades Higher On Weaker Dollar And Optimism.

|Includes: The United States Oil ETF, LP (USO)

The United States Oil Fund LP (ETF) (NYSE:USO) is having a stellar day up almost 3% on the day.  Oil is higher on the back of a weaker dollar and global optimism.  In addition, there is currently an in spirit of bull flag pattern on the USO.  It is trading sideways into the 20ma which is also short term bullish.  We may see a move higher here as that pattern plays out.

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