USO - Crude Oil Reaches Technical Resistance

United Stated Oil 9USO) Fund - Crude Oil and the United States Oil Fund (NYSE: USO) are continuing to break to the upside as investors are seeing strong demand due to colder than normal temperatures in the United States. It's good news for country -petroleum exporter-, but it's bad news for other country.

According to The National Weather Service (NOAA), the 6 to 10 day forecast projects colder than normal and much colder than normal temperatures in the eastern half of the United States.

This morning, WTI crude oil is up more than $2 dollars per barrel and is pressing on weekly resistance at $81.30 a barrel. A weekly break of this resistance level could create a technical push to $100 dollars a barrel.

• 
• 
• 
• 
• 
• 
•