Oil continues to rip today on a nice red to green move, but the market has reached some meaningful target zones.
On the weekly chart we see WTI Oil ETF USO has reached the falling 10 week moving average.
This coming while the daily upper bollinger band has been reached.
It's been a wild ride, but plenty of folks are getting off the train here. Does it mean it can't move higher here? No, but if you're forcing a long up here it's chasing and pushing your luck.
Trade 'em well!