Last month we posted an analysis of the United States Oil Fund (NYSEArca: USO) to show how the year-long rally in crude oil was probably nearing an end. In today’s post we offer a chart of crude oil futures to show how the upward pattern might be complete, setting the stage for a downward turn. Price is testing some Gann-based resistance levels after having completed what appears to be a five-wave move up from last summer. One scenario would have the past year of rallying prices be the first part – wave [a] – of a large correction. An alternative scenario is that the year-long rally might have been the first part – ... (full story)