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Oil Shows Possible Break Out

The United States Oil Fund LP (NYSE:USO) gapped higher above the key resistance at $36.00 today. Since then, it has not fallen back below.  This shows short term strength and leaves open the possibility of a move to the 200 moving average on the daily USO chart a $37.75.

Gareth Soloway
Chief Market Strategist
InTheMoneyStocks.com