Crude Holding (USL) As New Highs Bring in Profit Taking

United States 12 Month Oil Fund, LP (USL) is holding today as traders are meeting resistance on crude.

Crude has had trouble staying above the $83.00 mark as profit takers have come in and pushed prices back to $82.25. USL, meanwhile is trading at $40.58, right above the days lows of $40.50.

Expect short covering before the weekend which should move USL higher near the close. Buy on dips near the day lows of $40.50 or lower.