Current long positions in ETFs $USO and $TAN rallied at least 2.5% higher on increased volume. $IEO and $FCG also added to recent breakout gains. Last night’s breakout buy setup in $XBI triggered, and we are now long. We look for the price action to follow through to the upside with a close above $131 within the next few days. iShares Silver ETF ($SLV) printed a bullish reversal candle on heavy volume after undercutting the 50-day moving average on the open.

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