Oil Above the 200 day MA $USO $UCO $OIH $SPY $QQQ $IWM $CL_F

Oil is above the 200 Day MA and rallying as you can see below. I am looking for it to move sideways and rally into year end. If this gets above $49 then $52 as stated you could be seeing a longer term bottom move to $65+.

As stated here, you were looking at a likely reversal 

OIH looks even better seen below.

Oh and stocks rally on oil rallies (Joke, they have nothing to do with one another)

 

Stay Tuned.

 

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