USO - Staying bullishFigured I'd update this USO chart with a new target (#3). Unfortunately Energy-related stocks didn't pull back as I hoped when USO nipped at target-1. However, hopefully the target-2 area will allow them to consolidate before moving higher again.Longby simplenothingUpdated 2
USO Long After Slight PullbackUSO is in a shorterm uptrend and could continue up to around 11.38 within the next several days. I would look for a slight pullback and buy on strength around the 10.60-10.70 area. Stop would go around the 10.50 area.Longby mych36Published 1
USO - Adam Smith Moving Average Cross StrategySimple Moving Average strategy for USO - United States Oil Fund. This strategy can be used on stocks and currencies but will need to tweak frequency on chart and backtest Max Draw Down to Net Profit ratios for maximum dollar gains. by TK37Published 1
USO - Guess on short-term directionHoping for better entry on some energy-related stocks. Maybe timed with a pullback on USO??? Purely hypothetical.Longby simplenothingPublished 1
USO 2hr 1yr downside wedge breakoutFor the long term I am absolutely long crude + us oil companies due to fundamental reasons but the chart at the moment looks like it is about to breakout down. I have already a short built from ~11 but this is a new trade to play the breakout.Shortby asiansupermarketUpdated 3
USO 2hr 1yr closing wedgeRange bound inside a closing wedge until the inevitable breakout; play top to bottom and back up until the break out.by asiansupermarketUpdated 2
USO, US OILWith the trend line broken on USOIL, I have to expect further down side. Look for support at the 88.6% Fibo or more likely the retest of the last low, double bottom at $9.82. Indicators are oversold, BUT with the markets starting to sell off, its likely to find no support. I'll keep watching this one. Hopefully we get a good trade in a few days/ weeks.by bhowePublished 2
USO Cyclic AnalysisUSO (Crude Oil ETF) has traced out ICL's (Intermediate Cycle Low's) roughly every 118-120 bars (TD's) or 171-174 (CD's). Note the swing lows on 02/11/2016 (coinciding with major stock index ICL's), 08/03/2016 and projected 01/20/2017 (next major ICL). Cycle high's have been a bit less predictive (represented by the dark green cyclic vertical lines). This past H-H was 93 bars (133 CD's). Potential short-term low outlined with red trend line intersecting blue up channel line.Shortby jd5584Published 3
Oil Ready to Propel HigherThe USO has likely completed the current corrective move and is ready to resume the bullish uptrend as part of an extended larger degree wave (3). While there is the possibility that the correction extends to target the 61.8% retracement of wave 1 around 10.74, the minimum number of sub-waves to complete wave 2 has been reached. Moreover, extended wave 3s tend to be very bullish and wave 2s often only retrace to the 50% or even the 38.2% supports before resuming the uptrend. The ensuing move would see the USO rise upwards of 13 in the next couple of months, making for a nice medium-term gain as well as higher gas prices at the pump. Longby Eboard10Published 1
Fake brakeoutAfter the fake price will rise at lest of 2/3 of the channel. Maybe.Longby matjaz70Published 0
USO harmonic patternThese number are looking pretty close for two solid harmonic patterns looking at a potential reversal in USO to about the 10.32 area.Shortby BrianPenrodPublished 2
Dark cloud coverToday is a play with candelsticks. after nice run and 5 candesticks in overbouth teritorium it is a time to go down a little bit.Shortby matjaz70Published 3
Could USO be Ready to Move Below $7.67?The USO may have just completed an Elliott Wave Horizontal Triangle. If so, a post triangle thrust down may have just begun. Usually a post triangle thrust is equal to the length of the widest part of the triangle, which in this case is 4.78. If you subtract 4.78 from the supposed end of the triangle wave "E" at 10.61 it targets 5.83, it could reach this target by late October or early November. The recent Commitment of Traders Report for WTI Crude Oil futures shows that Commercials - they have the largest positions, are still at a relatively high net short position. Commercials had their highest net short position in late May just before the WTI Crude Oil and USO high of the year. A sharp decline in USO to a new low for the year could be a sign of a coming global economic slowdown similar to what happened in 2008. If this were to happen it would have a bearish effect on stock markets worldwide. Mark Shortby markrivestPublished 559
$USO $USWTI $UCOOil chart has possibilities here for a breakout. Everything is in place and holding today's gap is another bullish sign. No party yet until $USO gets over that R-Line and holds on volume. Longby CarrPublished 0
Although it looks like a potential head and shoulderI think it is a consolidation and will break upwards... I am a buyer of USO and short TESLALongby mazdakiPublished 0
Pullback USOIt is a possibility that oil drop a little bit, if goes up move the enter point higher.Shortby matjaz70Published 6
Feeling bullish about this move in oil $GEVOA 3% move tomorrow would be great! Long @ $11Longby JWildePublished 1
USO: US Oil Heading Down In Concert With Light Crude Oil FuturesThis is the third chart I am publishing relating to Light-Crude-Oil-Futures. This one is for-US-Oil. (The second one was for the oil-service sector, which is heading down). All three are very weak on the technical charts. It stands to reason that if Light-Crude-Oil is going to sell down, the oil-service sector and US-Oil will be weak also. All would confirm each other. Just as with Light-Crude-Oil-Futures, There are many sell signals. 1. Sell Fractal in effect (rectangle on chart). 2. Alligator jaws opened in tandem with sell Fractal. Alligator feeding in down-trend. 3. Chop indicator (under chart) (indicates a trend or choppy action) is below the 38.2 shaded area. This indicates a strong trend coming that is down. 4. Phase energy (lower top indicator) is heading LOWER. 5. Momentum (middle top indicator) is the 5/34 measure, and this is heading lower. 6. Prices are trading below the Ichimoku Cloud . 8. Prices are trading below the Ki jun-Sen baseline of the Ichimoku Cloud. This is a sell signal. 9. Prices are trading below the thick red Ichimoku Cloud conversion line. This is a sell signal. 9. The trend-line is heading down (thick golden line just above the Ichimoku Cloud ). I think US-Oil is heading LOWER. I believe Light-Crude-Oil futures are heading LOWER. I believe the oil-service-OIH-ETF is heading LOWER. Good luck to you in all your trades. Don.Shortby 649brunoPublished 6