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United States Oil Fund

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USO trade ideas

Simple Reason Why Oil Will Bounce Here: Duh! (USO)Oil is taking a beating again today. While many bears are talking about oil going much lower in the next few weeks, it has likely bottomed. Why? Simply put, Russia and the middle east (Iran) will start some trouble to boost the price. Remember, 90% of their economies depend on oil. Just watch, something crazy will happen in the next 48 hours to stabilize and bounce oil in the near term. Gareth Soloway Chief Market Strategist www.InTheMoneyStocks.com
AMEX:USOLong
by InTheMoney_Stocks
3
US Oil Short From Bullish Flag; High Risk:Reward RatioUSO has broken it's uptrend a few weeks back, and since has been heading violently lower with no signs of stopping, at least not yet. Not in my eyes. I had a plethora of converging indications, so I've marked them in the chart A - F, and then explained my trade setup. Good luck. A) RSI has broken above the 35 level, but this is likely because it bounced a bit from being oversold. It remains below 50 which is a bearish indication and still has resistance at the 40 level. B) The cream of the crop. B marks the head of a head and shoulders pattern in USO. You can see when the neckline was broken here, while simultaneously breaking a series of important EMAs, USO began it's slide. We would expect some sort of throw back to this neckline. This will be important in our trade setup later. C) Here is our bearish flag and Andrew's Pitchfork. You can see the slight countertrend movement off the lower bollinger band, and what now looks to be a hanging man. This entire move up is hitting resistance in the pitch fork, as well as the flag formation, and has formed entirely on declining volume. That's not a positive sign for continued upward momentum. D) PSZ (Prior Support Zone) from way back when. I'm expecting a move down into this zone where it will coincide with support at the lower BB or lower median pitchfork line. We may get a bounce down here, or more consolidation. E) Volume Decline Throughout Bear Flag F) Declining & Still Negative MACD The one thing I didn't like here was the RSI, and that the weekly chart shows that we may need a throwback before extended downward momentum. This is where that neckline comes into play. We may very well see a throwback to the 66 area before we are awarded with any serious downside momentum. However the weekly RSI is also in a downtrend, reinforcing our bearish outlook. I'm short a directional diagonal on this play, to take advantage of Theta decay, and let oil slowly drift lower in my favor until we reach that prior support and I debate what the next play will be. More downside, or a retracement? Maybe a renewed uptrend? Who knows?
AMEX:USOShort
by TheProfitcy
Beware Of This Scary Pattern: $USOAs the overall markets fall sharply today, the United States Oil Fund LP (ETF) (NYSEARCA:USO) which is a popular ETF that tracks the price of oil has put an extremely bearish pattern in place. Today, the United States Oil Fund LP (ETF) (NYSEARCA:USO) gapped down below a major trend line, triggering a Head and Shoulders top around the $36.92 level. This ETF is now trading around $36.40, down close to 1.50% for the day as the sell off intensifies. The United States Oil Fund LP (ETF) (NYSEARCA:USO) will have some support at the 200 day moving average at $36.13 but the only ultimate target will be $34.40. To get our live trade alerts like this 10% profit earned in 3 days and more, join us at the Elite Round Table right now! www.inthemoneystocks.com
AMEX:USO
by KiliamL
Short Term Bottom in Oil I've noticed the price of gas has been declining for about three to four weeks. Come to see, Oil has been in a free fall for a month now. From the bottom in mid-April to the high in late-June, the 61.8% provided a technical level that prices could bounce off of. Even when the harmonic patterns aren't evident, the harmonic ratios are always close by dictating prices. The volume increase we saw as prices approached the 61.8% fib, to me, confirm the bottom we've formed. Again, lower prices spur buying, appearing as a bargain for some. With the addition of RSI Divergence, I feel we go up from here but I can't say for how long. My job's to trade what's given to me. That being said, I'll wait on the sidelines until a buying opportunity presents itself or selling becomes to the new bias, allowing me to act accordingly.
AMEX:USOLong
by MarshallFX_
USO=> IRAQ/UKRAINE ENERGY CRISISDue to the issues in the middle east the worlds oil prices are gaining at a rapid pace. In the event the city of Baghdad falls or the southern territories fall the surge in American Oil will be explosive. The stock currently is in a out mode based off the upper indicators which I will not get into however the price which will continually rise of 38.853 and better will continually move the price of this company higher. Yesterdays surge in volume will only be confirmed by today's crisis in Europe and Middle East will probably lead to a higher price for domestic oil due to the fact we import 30% of our oil from Iraq.
AMEX:USOLong
by bhorbs81
USO weekly options expiry - small net short for institutionsThis week's options expiry suggests institutions will end the week net short about 600 contracts or about 60,000 shares. They had a vested interest (net 1500 contracts) in ensuring price did not move below $36 and I see they have basically done exactly that. Considering seasonality issues, one shouldn't be surprise to see their net short exposure. The question really is, what is their actual cost on that net short exposure (ie. strike - avg. premium collected)? Because of the significance of the $36 level, long ideas worked well today. I was fortunate to play a BoT long but there really wasn't a long Euro close into Options expiry setup to take. Regardless, that bias off the $36 level may evaporate once the expiry event occurs. If my charts help you, or you use my indicators... please consider a BTC donation to allow me to continue my work : 1EBttA56cWsgtsZn83VGiNT8si7inZV5Z5 & follow me on Twitter @CRInvestor
AMEX:USO
by CRInvestor
USO Weeky options expiration follow upToday was another options expiration day and with it comes some interesting information about current market structure and where the smart money might be leaning going forward. While there was no 'freebie' Euro close rally into options expiration setup today (because Russian news keeps bidding price up) it was very interesting to see how 'they' closed USO out at 11AM pst at 37.45. This meant that the $37.50 calls all expired worthless and the same puts would automatically exercise. Because I believe the street has a net long exposure (off the imbalance of the $37.00 strike) there was incentive for them to bring prices back down in order to cover those short positions. Additionally, the rather large spread trade (1700 contracts at $37 & $38) coupled with geopolitical tensions made this week's reading a bit murky at best. If my charts help you, or you use my indicators... please consider a BTC donation to allow me to continue my work : 1EBttA56cWsgtsZn83VGiNT8si7inZV5Z5 & follow me on Twitter @CRInvestor
AMEX:USO
by CRInvestor
2
USO setup for another weekly options expiryEvery Friday we have weekly options expiry and with it comes some interesting price action. If one looks at option open interest data one can glean an idea of where 'the smart money' wants the market to finish at expiration (11AM pst). Interesting here, we see the institutions have a lot of incentive (in terms of net exposure considering they write most options) to take price out above $36 but below $36.50. Additionally, one often gets a 'freebie' trade coming out of the Euro close (8:30AM pst) each of these Fridays. This short pocket of time is ripe for market manipulations and until the public catches on in earnest, i would suggest you try to take advantage of it. If interested in talking more about this market-anomaly or you have questions, please feel free to come to one of my tutorial sessions and we can talk lots about this and other setups. If my charts help you, or you use my indicators... please consider a BTC donation to allow me to continue my work : 1EBttA56cWsgtsZn83VGiNT8si7inZV5Z5 & follow me on Twitter @CRInvestor
AMEX:USO
by CRInvestor
USO - Today's action reasonabl considering weekly options issuesToday's price action in the popular oil ETF, USO is quite understandable if you look at it from a derivatives perspective. Since the advent of weekly expiration options, one can get a reasonable idea of where institutions want prices to end up at 11:00 AM pst three out of the four Friday's of each month (monthly expiration has a game plan of its own). Today, USO finished at exactly $36.50 on the 11AM bar, do you think that was a mere coincidence???....lol....
AMEX:USO
by CRInvestor
1
Today's TUT - Understanding Friday's Option's expiry setupFriday's are an especially fun day for me because the market often gives you a nice little treat. That being the fact that quite often buying the Euro close and holding into the weekly options expiry can translate into a nice little stack of money for the weekend. Today's price action in USO (Crude Oil ETF) couldn't demonstrate the setup better. The market put in a very clean OTE long sweet spot tag (into the European close) and then reversed violently higher back up into the OTE short zone. Considering most Put options are written by institutions there is a vested interest for the institutions to take price out at/above a certain level. In this case, there was lots of incentive for them to take the market out above $36.50 and that is exactly what they did. Notice too, once the options expiry occurred, the original trend resumed lower. If my charts help you, or you use my indicators... please consider a BTC donation to allow me to continue my work : 1EBttA56cWsgtsZn83VGiNT8si7inZV5Z5 & follow me on Twitter @CRInvestor Additionally, if you have questions about my indicators feel free to inquire as to when my next Google hangout tutorial session is scheduled so you can ask me in person... (or go here: www.google.com)
AMEX:USO
by CRInvestor
1
1hr USO - levels to consider trade setupsHere is a 1hr chart on the USO (Oil ETF). At the moment we are in a tough place. Neither at OTE long or short areas so atm I am not considering a trade setup. Should we get back up into the $37 area or down into the low $35 area I shall consider setups then. If my charts help you, or you use my indicators... please consider a BTC donation to allow me to continue my work : 1EBttA56cWsgtsZn83VGiNT8si7inZV5Z5 & follow me on Twitter @CRInvestor Additionally, if you have questions about my indicators feel free to inquire as to when my next Google hangout tutorial session is scheduled so you can ask me in person... (or go here: www.google.com)
AMEX:USO
by CRInvestor
USO - Consolidation after bounceVery similar to CL1!, the oil ETF, USO, is basically consolidating after a nice bounce. Price here worked its way back up into the 37.50 area and is now working its way back into the Optimal Trade Entry (OTE) Long zone around 34.50. At the moment we appear to be in what I would consider a poor trade location area. If we are going to take risks we need to know where our 'I'm wrong' level is and putting a trade on at current levels would imply a very wide risk threshold.....hurry up and wait.... If my charts help you, or you use my indicators... please consider a BTC donation to allow me to continue my work : 1EBttA56cWsgtsZn83VGiNT8si7inZV5Z5 & follow me on Twitter @CRInvestor
AMEX:USO
by CRInvestor