Crude Oil

Resistance is here and up to around $74, then it's on to new highs. On the downside, below $60 and the bears will be in control. The $60 to $75 range is the battleground. The relevant levels for USO are the $51 level (52-weel high) and $40 as last support for bulls. USO's high was at the 61.8 percent retrace of its 2020 decline.