USO Analysis 9/03/08 - USO Technical Analysis Sep 3, 2008

USO Technical Analysis Stock Chart

USO gapped below the 200 day MA which is very bearish.  The USO has strong support between $87.79 - $86.64.  A close below this level and next support appears to be around $79.40.  Resistance is now the 200 day moving average at $89.16 and the $98's