Happy Friday oil traders! Here is my take on USOIL today. Today appears to have an upward moving channel. The S&P500 supports this as it is currently up 9.5 points in pre-market. USOIL has been following the S&P this week so I would expect to see another jump back up to $57 range. I don't think we will see any major movement today. Everyone wants to have a happy weekend. Trade carefully and always use SL.
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Link to my other analysis today.
