Oil Bulls In Trouble ?

Purely from the look of this chart, it should hint it is highly probable that a war at Middle East between US and Iran will NOT happen. And also from this chart, there is a triple tops formed and indicator divergences, these are forewarning for a major crude oil slam down soon. When if it happens, let's hope Najib keeps his words and cut petrol prices:-


The US Oil Fund (USO) started the year strong with a surge above 39, but cannot hold above this level as the ETF plunged over 1.5% on Thursday. USO was also turned back in the 39-40 area in November and December. In the indicator window, note that Spot Light Crude ($WTIC) has had trouble staying above $100 since mid November.