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USO

USO - 1yr 4hr long for the long haul The trade: as mentioned before, short term we can sell puts because our mission is to get a long position. For the quick play, a long position with stops below the wedge for the short term continuation of the trend. Range is getting tight so I won't be betting the farm until there's a clean break with confirmation of a new trend. Examples of fundamentals: Reasons to buy long term: 1. Politics in the US: a. Rex Tillerson – Head of Exxon for 10 years has been appointed secretary of state. b. President Trump has warned Mexico that they will pay for his wall through tariffs, and that he will re-negotiate trade deals like NAFTA. i. With these two points in mind we can reasonably conclude that a tariff will be put on – and the best option that benefits both is a tariff on crude + gasoline imports. It will protect their market share in the USA and line the pockets of Oil/Gas producers.
AMEX:USOLong
by asiansupermarket
IMPORTANT MA CROSS FOR USO FUNDOn March 24, 2017 the United States Oil Fund USO, 200 daily moving average crossed below the 250 daily moving average. Historically this has occurred 10 times. When this happens, the ETF drops a minimum of 0.151%, has a median drop of 2.214% and maximum drop of 10.623% over the next 10 trading days. This last occurred December 8, 2014 and the fund dropped 67.92% over 296 trading days until it hit the bottom. Current USO chart from TradingView When we take a look at other technical indicators, the relative strength index (RSI) is at 29.0332. RSI tends to determine overbought and oversold levels. I personally use anything above 75 as overbought and anything under 25 as oversold. The current reading declares the fund is nearing oversold territory, however, the fund recently hit the oversold level and is slightly heading upward from a 23.5711 level on March 14, 2017. The true strength index (TSI) is currently -30.2018. The TSI determines overbought/oversold levels and/or current trend. I solely use this as an indicator of trend as overbought and oversold levels vary. The TSI is double smoothed in its calculation and is a great indicator of upward and downward movement. The current reading declares the fund is trending downward. The negative vortex indicator (VI) is currently 1.3201. The VI determines current trend and direction. When the positive level is higher than 1 and higher than the negative indicator, the overall price action is moving upward. When the negative level is higher than 1 and higher than the positive indicator, the overall price action is moving downward. The current reading declares the fund is trending downward. Considering the moving average crossover, RSI, TSI, and VI levels, the overall near-term fund direction appears to be trending downward. Based on historical movement compared to current levels, the fund could drop 1.93% before turning upward again.
AMEX:USOShort
by StockSignaler
Is Oil About To Turn Higher? This Chart Says Yes! Oil has been under non-stop pressure for the last few weeks, falling from new $55 to the $47 range. Talk is becoming overly bearish and that may be a great signal to buy. Another signal that oil may be headed up is the stock chart of Apache Corporation (NYSE:APA). The bullish combination of major support stretching back to August 2016 and a bullish inside bar (flag) pattern signals upside on the stock. If Apache Corporation is headed higher, you better believe oil is going to get a bounce as well. See all of my trades VERIFIED right here: verifiedinvesting.com
ALong
by jenny_rebekka
This wavecount suggests one more leg up in the wedgeThis wave count suggest one more leg up to form an intermediate wave E before a larger price drop. In a primarily wave count (dark pink) I am open for the possibility the blue wedge being a wave A in a ABC correction. Stay aware that price might as well break out at point (D) as we are moving pretty close to the wedge's apex now. If point D is broken I suggest closing any longs. Watch how price currently behaves around dotted blue trendline near point (D) on lower timeframe for clues of a potential breakout.
NYMEX:CL1!
by Chartist4312
USOIL: My best analysis everOil looking very bullish RSI is going down and nearing an interesting area where it bounced off in the past. The green triangle is support area, we are looking to long there. The darker green area is most likely to hold. (if price breaks that this whole idea is invalid) Fibonacci retracement 0.618 is at that area. One resistance line is broken and acts now as support, the one above will be broken and price may bounce off that again. Entry: 49.10 Stoploss: 37.30 Target: 61.60
TVC:USOILLong
by LoneFox