USO trade ideas
Long OIL. January 2021.- The MACD is showing a pretty decent buy signal
- USO hasn't wanted to cross over the $4 mark for 2 weeks now, could be possible support
I'm bias because I opened a position but how much further could it really go? Even with overproduction and limited storage. The ones losing the most money in this crash are the ones controlling the prices. Next year should give plenty of time for oil to recover.
Thanks for reading.
USO 3/31 - UNITED STATES OIL FUND LP UNITSUSO 3/31 - UNITED STATES OIL FUND LP UNITS
AMEX:USO
Potential to grow again to $10.05 (3/4). Price very Cheap and hold it. We're going to start seen grow and profit at soon the coronavirus disappear.
Different between: 10.05 - 4.23 = $5.82 per share
Excellent Profit!!!
USO Fond probableBottom probable.
v4 = 7-8dol
Pour une reprise pluriannuelle, il faudra une reprise claire de la structure à 5v (fin au delà des 0.5%) ) à partir des creux que nous aurons atteint.
Sinon ce rallye pt être correctif, je m'attendrais que la zone de la v4 confirme une résistance et en recherche de liquidité pr double fond, voir encore un plus bas.
TRADE IDEA: USO OCTOBER 16TH 2 X 2/MAY 15TH 5 CALL RATIO SPREADPictured here is a bullish assumption diagonalized call ratio spread with two times the number of long calls at the 90 delta strike in October as the number of calls in the front month with a 4.45 break even versus 4.47 spot. As of Friday close, it's priced at a 4.89 debit and had delta/theta metrics of 134.84/.45.
I generally visualize this setup in two, separate pieces -- one consisting of a long call diagonal and the other, a standalone long.
Assuming price breaks the short call running into expiry (and stays there), the long call diagonal consisting of one long call and the front month short will converge on max profit. This will be the difference between the width of the spread (3.00) and what it cost to put on one long call leg and the short call (2.17) or .83 ($83), at or near which that aspect should be stripped off.
The remaining call is then left to ride alone as synthetic stock to be taken off in profit, potentially targeting the $8-10/share, making a 5.25-7.25 profit on the standalone long conceivable.
In the event price doesn't clear the short call toward expiry, the short call aspect is rolled out to reduce cost basis further.
USOHoping that the market dip will be reversed in a couple of days now, this definitely seems to be reversing similar to the previous pattern.
Which way should I go now ? Yes, it can be frustrating to see your profits evaporated after it has broken out from the bearish trend line and then pull back to where it was at your entry price.
That would be considered a break even trade since your SL is not triggered.
It is back to its psychological support level at around 10.38 and this level is crucial as if it breaks down, we can see it revisit the bottom at 9.23 to 9.37 level.
Watching closely on 4H time frame before buying. Be patient and let the trend tells you what to do.
USO Double TopUSO has formed a double top pattern, and has now tested the 10.4 support over 5 times. Looking for a breakdown to the next level of support around 9.3.
USO - Support areaUSO 4 hour chart 2/22/20
This is a short term 4 hour chart. USO is correcting from its first resistance. If the support box is broken, then USO is likely to go further down to the Trend line below near 10 area. If the support box is held, I will be on the look out for (i - ii) micro level structure to be bullish.
USO on the rise.Hey everyone,
USO looks to have bottomed out and will be moving up into the summer months. Boring indicator has triggered signaling bullish uptrend and with the Fibonacci retracement lines I see a an slow and upward climb. Happy trading!
All Roads Lead to... Freaky Friday? - Mid-Term USO Overview
United States Oil ( USO ) falls on spread of Wuhan virus, U.S. oil-stocks build.
Currently $10.50 per stock or $50/bbl seems like local support while bearish downtrend still is in action.
Looking forward for major bearish continuation, until nearest (Mar '20) Triple Witch.
$USO May Now be a Contrarian Long TradeUSO has hit the skids amid demand concerns as China turtles under the weight of Coronavirus quarantining. OPEC+ has failed to deliver a cut.
But support is holding and a squeeze is possible because better days lie ahead, powered by new stimulus and a coming jump in post-quarantine demand.
Crude At Major SupportCrude At Major ZSupport showing divergence. Supply going down while demand continues to improve (even though at a slow rate )
USOI see 2 possibilities for oil over the next few months. Going off the red line, looks bearish. Looking at the longer term black line, looks like it could bounce. Feels heavy but we won't know until we know.
