OIH shorts have no reason to cover until horizontal support/resistance at 129.60 is surpassed (135.80 is horziontal above).
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http://stockcharts.c...allery.html?uso
USO shorts have no reason to cover until 48-49 is surpassed.
my 2 cents..downside targets - who knows.
monitoring the trades using the 5 and 20 sma's on the 13 and 60 minute and daily...prudent to watch for upside moves first before covering.
Edited by hiker, 09 January 2007 - 11:53 AM.