Time For Oil ETN, ETF to Make a Decision (USO, OIL, OVX, USD/CAD Charts)

The oil exchange traded note ($OIL) and oil exchange traded fund ($USO) are both in a boring battle with resistance, while oil volatility ($OVX) is sleeping at multi-year lows (28 v. 100 in late 2008).  Dullness could flip at any moment though.  The June oil future is at $83.75 testing the 50 day moving average.  Is the Goldman hearing tomorrow and Greece scaring everyone away? USD/CAD is below support but rallied back to 1.  Protect yourself from the oil volatility monster with a cheap Kevlar vest.

$USO - OIL ETF (StockCharts.com)

$OIL - Oil ETN

$OVX - Oil Volatility Index

USD/CAD 12:17pm Eastern (FreeStockCharts.com)

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