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USO

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
USO Short Term LongWe saw a gap down on the open today. Regardless, buyers were still willing to come in and drive the price higher. I think this is a good opportunity to squeeze out the people who got short positions in early on what appears to be a top forming. Be prepared for a gap up on the next open. In which case, I still wouldn't be afraid to open a position up. Looking to get long once the MACD crosses upwards. My stop will happen if the MACD crosses back downwards. I would look for a target price of around 11.90 - 12.00. I would not be looking to hold this for more than a few days.
AMEX:USOLong
by mych36
Transitioning to Risk-OFF Inflationary EnvironmentWe are about to transition from a risk-ON inflationary environment to a risk-OFF inflationary environment. That means bond yields might fall even though inflation is rising. The US has been a huge beneficiary of the risk-ON move and as a result should see outflows. That means lower equities, and a weaker dollar. Given a falling dollar, rising inflation, and risk-OFF environment, it doesn't seem unreasonable to think that GOLD could do quite well. US treasury bonds should outperform HYG and EMB. Oil is the wild card. Higher or even flat oil prices will be much higher than they were last year. The YoY inflation effects if OPEC can stabilize the oil market above $50 for the next two months would really feed into inflation. Higher inflation would hurt the US consumer and business margins applying further downward pressure on risk assets. But I am getting ahead of myself. The risk-ON rally is likely over, and it's time to expect a risk-OFF rising inflation environment.
TVC:SPXShort
by KlendathuCap