Morning Thread

Gator's Chart of the Day: USO

Crude oil traded in a range from 95-103 during the November to mid-February timeframe.  Since then it has established a new range up to 110 with 105 as the support level.  It's back there now.

USO is a tradeable instrument and it shows the same ranging characteristics (duh) with a current support level of 40 and resistance at 42.  It's at the bottom of the range and could be a good buy with a stop just a little under 40.