Commodities Analysis by Michele Schneider covering: Crude Oil WTI Futures, United States Oil Fund, LP. Read Michele Schneider's latest article on Investing.com
Loyal readers of the Daily know that we often focus on zooming out to longer timeframes to assess bigger trends.
Historically, the 80-month moving average served as resistance in USO since 2008 when the market crashed.Once oil cleared $80 a barrel, we saw the price spike to about $94.00.
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