Oil price reluctant to recessionLooks like oil and natural gas are reluctant to economic hurdlesby VisualSectorsPublished 0
decision time for OILOil has run into overhead resistance at the 50 DSMA after an impressive 5 day run off the most recent lows. Does it now cower in the wake of a hawkish Powell at Jackson Hole later this week, or does it say Come and Get Me, Big Guy?!Longby tfoley472541Published 1
USO is done. Peak Inflation and Recession will close it.CPI data tomorrow will crash Crude tomorrow and keep it going on a downward spiral.by ugh2022sucksPublished 112
Money is the root of all evil. Oil is the root of all inflation.$USO nice bounce of the 150-day and breakout through the first Fib retracement level on the daily. Looking for positive momentum over the next few weeks. This will kill the #bearmarketrally soon enough. Powell chickened out with 75 bps. Longby twelvepercenttraderPublished 2
Is #USO Breaking Out?Is #USO Breaking Out? # Crude #oil extended last weeks Friday’s positive close in trading on Monday as U.S. President Joe Biden’s visit to Saudi Arabia failed to deliver anything concrete. The trip was aimed at coaxing the Saudi’s to increase oil production thus easing inflation pressures. The response from the Saudi’s and other key officials reiterated the fact that production scheduling and/or increases remain with the OPEC+ consortium leaving President Biden without a deal. Sorry #JoeBiden Longby fintechwirePublished 0
A bullish scenario for US Oill (6 Month View)Oil prices rose by 2% early on Friday, with Brent rebounding to above $100 per barrel at the end of a very volatile week, amid reports that President Joe Biden’s visit to Saudi Arabia today will not result in a public announcement of an imminent production increase. Longby UnknownUnicorn38289576Published 0
USO ShortWeekly uptrend, Counter trend trade In Supply Zone, Trendline break Short 88 Stop 93 Target 72, 59 Risk management is much more important than a good entry point. I am not a PRO trader. In my trading plan, the Max Risk of each short term trade should be less than 1% of an account. Shortby PlanTradePlanMMUpdated 0
USO - Are we Headed for Inflation Relief?This is an important level to closely monitor. This chart is pretty self explanatory..... Will history repeat itself? Shortby oliverrathbunUpdated 115
USO Strong buy. Long call 200 optionsIf I were still trading, which I am not. I would invest in long 200 call options on USO. I am considering opening an options account and investing in long call options with a strike of 200. I would use the price of the long call as my maximum lose tolerance level. Meaning, If my max risk per trade was $150, I would buy (long) a 200 strike price that would only cost me $150; if I am wrong, I lose my max risk tolerance of $150. If I am right, I get exponential profit potential. Stop putting all of your money into buying and holding. Select entry points, max risk tolerance and strategic entry intervals. Long USO seems great right now. If I am wrong, which can and will happen, the max risk will be automatically handled in a long option position. Learn option trading and stop giving greedy assholes your money. Check out the Cash in/Cash out Report a free open source indicator on Tradingview.com. Here is the indicator If you have question on how to use and setup the indicator, please let me know. If the indicator gets 1,000 likes I will turn it into a free iOS and Android app. Let me know if it saves or makes you money!!Longby Johnny_NicklesPublished 0
USO trend support finally breaking? 🥶on the verge of breaking trend support and resistance is failing to act as support now which is bearish. I am expecting a quick move down to 75.9-67.75-59.6 like and follow for more! thanks :)Shortby Vibranium_CapitalPublished 202028
Updated monthly for USO using the Cash In/Cash out ReportThis is the monthly USO chart with the Cash in/Cash out Report applied. The Cash in/Cash out report is a free and open source indicator here on TradingView. However, since Tradingview won't allow me to give a direct link to a free product on their own site, you will need to understand how to add an indicator to your chart. Please post comments if you want help installing the free open source indicator to your charts. The Cash in/Cash our Report is set to three. We are seeing three months of rolling cash into and out of the market. The green bubble forming is the rolling sum of the period set by the user, three months in this case. The individual bars are the months. USO looks like a strong buy right now. However, I am much better at identifying short positions. What do you think, are you long or short USO? If the Cash in/Cash out report gets 1000 likes, it will become a free Android and iOS app. If you make or save money using the Cash in/Cash out report, give it a like!Longby Johnny_NicklesPublished 0
USO: Rubber BallLike a rubber ball, USO has bounced off the green zone between $77.92 and $79.69 twice and finished wave 5 in green. We now expect it to jump a bit higher still to finish wave ii in orange before dropping down until the support line at $67.68. There, it should rebound to complete wave iv in orange and resume the overarching downward movement afterwards, which should lead into the turquoise zone between $60.18 and $43.48. There is a 30% chance, though, that USO could jump above the resistance at $87.83, thus continuing the ascent instead.by MarketIntelPublished 4
USO daily frame one count as a possible wave 5 sequence complete do you know the human head weights 8 pounds?by JAMBCapitalPublished 0
Inverse relationship between Oil and TreasuriesQuick chart comparing TLT (INVERTED) with USO to show they trade exact opposite of each other. Oil go down, TLT go up. The world is collectively fighting inflation. Inflation literally does not come down unless oil prices come down.by stockpreachermanPublished 2
No idea why, but USO is facing a short position. USO broke resistance. Gas holiday? WTF is a gas holiday? I have no idea but it is changing prices of everything.If the CICO report gains 1000 likes, I will turn it into a free IOS and Android app! Give it a like! Shortby Johnny_NicklesPublished 4
Relationship of Oil to CommoditiesQuick chart to illustrate the correlation between oil prices and commodity prices. by stockpreachermanPublished 0
USOIL FORECAST OVER NEXT 7-10 TRADING SESSIONS (As of 6.15.2022)Enjoy!!! I am Short term bullish on oil. I dont think anything is worth being long at the moment. The winds are changing constantly, and to be agile and nimble is to be liquid so I dont stay in trades typically too long especially commodities. Longby therancherPublished 2
Strong head and shoulders bottom. This is the Cash in/cash out report (CICO) set to 48 user input on the 15 minute chart. The CICO is a running 12 hour estimated sum of cash going into and out of a commodity. I see a strong head and shoulders bottom. Summer gas prices are here!!!! <--- sarcasm. Apply the CICO report to your charts and give me feedback! The CICO is a free open source indicator here on tradingview.com I am trying to turn this idea into an app!Longby Johnny_NicklesPublished 0
strong bounce from local support today ⚡I have been waiting to short oil for a while but Id like a break of the trend support first for breakdown confirmation. more rally is possible until that trend breaks Watching for shorts below 86.80-longs above 92.36Longby Vibranium_CapitalPublished 1113
When $10 ++ per gallon of petrol???Speculative idea based upon technicals, rising inflation, low refinery production, and world political agenda to curb dependence on oil and force climate change adherence to green new deal. NOTE: Not trading advice. Entertainment only. ;)by tantamountPublished 336
USO: Springy 👟👟USO seems to have put on its extra springy sneakers as it has jumped up into the green zone between $83.54 and $87.83 quite briskly after pressing against it for some time. Now, it should finish wave B in green in this region and subsequently turn around to move downwards. On its way, USO should then drop back below $82.48 and also fall below the support lines at $67.68 and $62.92 to reach the yellow zone between $60.18 and $43.48, where wave (2) in yellow should end.by MarketIntelPublished 3
USO - Can It Break The Arc? IF 93 can be turned to support, there is some room above. Watch it going into November 2022... Any touch on the lower arc could be an area to scoop. Longby GannJourneymanPublished 3
USO (oil) BreakoutLooks to me like oil is breaking out. That's terrible news for the economy and inflation. High oil prices can and will cause a recession, regardless of what Powell does with rates. Bought EWZ calls today, Brazil trades with oil. Probably could've just bought USO calls, but I like the liquidity in EWZ options.by hungry_hippoPublished 445