Crude Oil Set to Rise (USO, UCO)


One way to protect against rising fuel prices is to own Crude Oil.  Channel support was tested today, and the setup is now bullish for Oil as shown. 

Oil has consolidated during the month of March.  A move back to the top of the channel would be significant.  A breakout of the channel would result in a powerful move up for Crude.

Positioning to hedge against rising prices makes a lot of sense.