USO 15m analysis - Dead-cat-bounce into resistance, now what? Considering the bullish momentum divergence coming into today's session it shouldn't have surprised anyone to see us move our way higher today. That divergence seems to have played itself out as the resolution of the current wedge pattern will probably dictate trade going forward. As for price action itself, it is interesting to see how we played with yesterday's two highlighted down trend lines through today's session. First we opened right at the initial, then after a substantial pullback, worked our way ultimately up to the second. Fascinating too, both the pull back from the open and the subsequent rally filled gaps left on the chart. Once the gaps were filled, the moves literally stopped on a dime - both times, remarkable. I have expected the first week or two after the Labour Day weekend were going to be quite volatile - I didn't expect this!
