When is the right time to get into USO?
Futures have dropped to new lows, and we're starting to get severely oversold with oil. USO has been accumulating nicely with lower lows and the RSI showing divergence towards the upside.
We have June CALLS before this week, but will be adding more longer term CALLS slowly over time.
We know that suppliers are trying to make deals about the supply, the demand will come once travel is allowed once again. When that news hits, especially for US, this will pop.
We have June CALLS before this week, but will be adding more longer term CALLS slowly over time.
We know that suppliers are trying to make deals about the supply, the demand will come once travel is allowed once again. When that news hits, especially for US, this will pop.
Note
Do not buy options further out than this year. I have been seeing people posting ideas about buying January 2022 calls. This is a BAD idea. If you are doing this, you don't understand USO and should not be trading this. DO YOUR OWN DUE DILIGENCE.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.