Oil to follow suit with an oversold bounce
Given oils correlation to SPY (as shown in the overlay) as well as recently being oversold on the hourly, 4 hour, and daily timeframes it seems the oil bulls will follow SPY and other equity bulls in putting global growth concerns to the side for now and focus on looking to the upside with a potential rate cut and Mexico tariff delays also helping overall sentiment. If USO can break 11.19 the higher low will be set and an uptrend can be reestablished.
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