Crude Oil, viewed by way of United States Oil Fund (NYSE:USO), nailed its technical target 33.68 (marked with the lower horizontal red line in the chart here). It seems stalled there, but it’s not exactly bouncing; given the break beneath the ascending blue trendline, perhaps crude oil is in for some more serious damage.
My Short Idea
(NYSE:XOP) -- offered up several weeks ago -- has done great (as has the more aggressive version, (NYSE:ERX)). But those funds have plenty of room to fall.
Perhaps, in spite of all the insanity in the Middle East, crude oil is going to keep weakening.