USO trade ideas
She's a pig...but im into it.. Its ugly AF, but I like it. Low risk options trading here. Got into more call options. LONG from here.
USO Creation Baskets Halted.. Awaiting new share approval from SEC..
Sitting on my hands at this time.. Want to get some more information..
Stay tuned..
Honey, is it time for the Jetski and Convertible again? AMEX:USO
Looking at the Weekly chart, USO is oversold on RSI . Sell off VOLUME is enormous and appears to be slowing. We're also sandwiched in between the weekly ($4.30) and monthly supports ($3.70). From these regions, I am looking for a bounce up in the near future to retest resistance (highlighted) in blue, especially if we're getting close to a rescinded "lockdown" order. I anticipate oil demand to rise sharply with immediate "recreation" travel demand, i.e. Road Trips, Jetski's, ATV's, Cruises, etc. Let's be honest, who in their right mind will remain at home one sec longer after having spent a month + in isolation? Time will tell with this one. Good luck!
NOTE: NOT TRADING OR INVESTMENT ADVICE> ENTERTAINMENT ONLY!
USO further updateBought the dip. Considering how bad the conditions have been with oil, I bought the dip and do believe this is in line with the 2014 Q4 crash in Oil. It will eventually come back and waiting for a good demand to rise once the lockdown eases out and most of the industries are up and running and 50% of the people that are working from home or at home start to work. The demand shall rise back up.
USO is crashing again. Bottom around 1.92 or 0.95?As suggested some time ago, an extended 5th could occur in USO... and it's happening. We may bottom around $1.92 or $0.95. Currently at $2.6 in pre market. This is possibly one of the most dangerous falling knife ever :knife:
What Happens Next?Maybe one day I can give up my job at Burger King, and actual put some money into these charts. Nothing here is financial advice. Would you trust your money with someone who flips burgers for a living.
LoL
How to profit from Oil crises - USOI wouldn't think about opening any longs until this scenario happens.
Breakthrough of unfilled gap and then retest.
this one is simple
ESO Day ChartThe end of oil ?
Does the US Military have
Hyper Technology ?
a) No; No.
b) No; Yes.
B) Ye;, Yes.
Enough said.
USO Breakdown pattern following up on our shorts on USO, look to book profits as USO drops below 2.5 , our downside target
$USO ... (NEUTRAL TO BULLISH)Team,
Here is our tracking of oil through USO . It looks like we might be getting a capitulation move down here, but it's still a little too early to say. (This is a monthly chart) With that said, we started buying some today (very small position so far) for long term hold (Dec 2022).
As always ...
***Let's talk about it...***
Incoming Reversal! Technical Analysis of USO - United States OilFirst, we look at the 1 week chart and establish there's an overall bearish trend. This is indicated by the downwards purple trend lines. Then we zoom in to the daily chart for more details and establish a level of support, indicated by the horizontal purple line. We also determine the short-term bearish signs and determine there's a loss of momentum. This new bearish trend support/resistance are indicated by the green lines.
What we'll be looking for on Monday is to break out above the long-term bearish purple line. Look to place a trade around end-of-day Monday based on current position above or below that line.
For me, the loss of momentum and the recent activity with oil in the news (Russia/Saudi deal) I'm going to lean towards a bearish trade. AMEX:USO
Don't Chase Oil ETF's - They've Already Rolled OverWith oil crashing, curious equity traders are searching for a bargain, and what better way than buying the USO etf? Well, practically anything. The USO etf is based on June futures contracts, which are still hovering around $22. Hint: things are going to get VERY ugly. USO
BUY WHEN other are dumb lol thanks for paniclol speculator thinks oil will go to zero, seems like stupidity is contagious
bear trap elow support
buy and forget it
Oil supply exceeding demand creates opportunity.Oil has taken a massive hit over the last few years.
As industry is pushed towards more energy efficient solutions, oil has been steadily produced in the background. The supply/demand mismatch initially creates burden on the producers, who have to store excess oil and deal with price volatility. Now, in a world nearly shutdown from COVID-19, demand for oil is at an astonishing low.
However, the USA, Russia, and Saudi Arabia have all agreed to decrease oil production over the next few months. This decrease in output should help with the oversupply. As the world slowly regenerates from COVID-19, oil demand and use will increase. We should naturally see an attempt return to mean.
In the short term, here is a falling wedge that appears to be printing. You can see bullish divergence on RSI and stochastic bottomed out. I will long the breakout and place shorts inside green box.
OPTION " CALL USO IN 3.8 FOR 1 YEAR " LONG TERM TRADE 1- historical oil prices good to enter
2- trump will not accept that he will try to fix it
3-Falling Wedge with big volume
4- historical trend line
Be patient :)
Oil Prices Are Crashing. Bloodbath Coming If Indices Follow?If the indices collapse too, beware of the extended 5th!
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.
USO USOIL Possible BottomPossible double bottom with a falling wedge for confluence. Stops below the low. Enter again above the low if you get stopped out.
Not much more to say about this.
