On March 5th 2009 I had suggested that "Selling pressure in USO has been abating. Hopefully we can build a base for USO around these levels ($25) for some bullish action in Oil for the remainder of 2009. My most optimistic target for USO in 2009 is $45..." ! You can Click Here to see the post. The bottom in oil was confirmed! In early June I was drawing the topping pattern around the $45 level (Click Here)! Then came this Bear trap in late september that did what it had to do : traps the oil Bears ! I have drawn two new possibilites for the coming weeks : red & green.
