UPDATED ON JULY 4th, 2012
USO bounced off the yearly S1 pivot point and the yearly Camarilla L4 pivot point.
XLE bounced off the yearly Camarilla L3 pivot point and the 1000 day moving average. XLE has gone from a high at the yearly H3 pivot point to a low on the L3 pivot point this year. Now, XLE is testing the Monthly R1 pivot point and the 200 day moving average. Look for a pullback or sideways consolidation after this 10% bounce.
