Resistance in oilThe oil is comming to 40 so it should be at least a pullbak. Maybe target is a littel bit to optimistic.Longby matjaz70Published 224
USO long setupDropping oil price has crushed USO. This means that it is not a strong fund, but still favourable for a SMALL trade. It is bearing towards lower support at around 9. If this support holds and it bounces back, we are good to go long. But as mentioned, with a small position. SL can be set at 7.5. Good luck Longby ButecPublished 1
USO - the down turn is to shake out weak hands Move to higher local highs expected. Buy USO and short TSLALongby mazdakiPublished 2
USO COULD TEST FEB LOWOil rebound ran it's course. The Primary Trend is still down. The best case scenario is making a double bottom around 8 by year end. the worst case???Shortby bl4ckn1ghtUpdated 111
USO FUND - POSSIBLE DOWNTREND CONTINUATIONUnited States Oil Fund seems in a downtrend continuation. Shorting the pullback seems a good idea. A strong breakout on the black downward trendline could change the trend direction.Shortby cantestogoPublished 2
USO - 2hrI have a small speculative trade on for the (a) wave of v of 1 assuming a Leading Diagonal off the low. Using Oct monthly expiration 11 strike, avg 0.54 entry. This is a very aggressive position...Longby nick.holland78Published 113
USO - 4hrMonths ago I'd posted skepticism that THE LOW could be seen on 3 waves in Feb. Since then, price has continued higher than I'd initially expected for the green wave iv. The green count is still valid - and last week I exited a swing short from near the June top. Given the time spent consolidating instead of breaking lower in a presumed green wave (iii), I'm again considering the possibility of a Leading Diagonal (which assumes THE LOW was seen in Feb). Contemplating a long trade IF price holds over 10.18 region (micro count allows for one more low below 10.51 but its note required). The next rise should be corrective as prescribed by a diagonal - something like the (a)-(b)-(c) in v of 1 (white count). Could be a difficult trade, so I'll take it one move at a time. Strong decline without breaking back above 11.12 would be an indication that the green count is continuing.by nick.holland78Published 112
Potential Bearish trapIf this will be bearish trap which I saw a lot of times and play breakout it will be nice trade. Longby matjaz70Published 5
USO change coming or more of the samesee chart, I believe more trend down, once we break this major support area. Shortby claydoctorUpdated 3
Short this baby! USORisk off move, weak hr trendily support. Call credit spreads trading light though Summer is no time to risk on low liquidityShortby GVUpdated 4
USO / Oil - Possible breakoutPossible breakout for USO the oil. See the full newsletter here: forum.marketstockoptions.comby TradingMSOPublished 1
Pitchfork breakdownI don't use pitchforks normally, but I saw one could be set up pretty easy on this chart and it's having a nice break down and out of the indicator. the 12.50 pivot was a also a previous support pivot last August. I could see the next major support being provided around the 100DMAShortby MindsForgePublished 3
USO - Pull back!USO is pulling back. We are heading into a major support and we can play the bounce!Longby damoonmotamediPublished 1