Oil fueling the way to summerWith Oil (gas prices) on the rise and the recent winter storms in Texas slowing production, a long with announcements that demand for oil is increasing; USO turned green on on the last hour of trading. Entered a 41/40 PCS for 0.23 3 DTE below the daily low. AMEX:USOLongby H3-PublicationsPublished 1
Higher Oil Prices are on the HorizonThe bottom is in on oil and with the US cutting back supply we have a macro economic scenario where can actually see oil rise to levels we haven't seen in 15 years.by NotReallyJackPublished 0
Holding between $38 and $45We are comfortable holding long term USO between $38 and $45 based on current global environment and trading structure. There is a long term trend line that sweeps through at $38 that heads to $39 slowly, very slowly which is easier to take advantage of. Still targeting $45 on the long term that is a safe place to take a position off this trade but continue the uptrendLongby swimmaxPublished 1
USO - very bullish on oilAnyone with a brain knows where we are heading.. Take a lesson from Texas. Long here for USO and Oil and gas in general. Especially with a Biden admin. Opposites attract... Good luck!Longby Verum0Published 226
USO SHORT?Snow in Texas means oil rigs are frozen. Oil business are taking a hit. On top of the electric car boom! by Username014638Published 1
Commodity super cycle started...Long $USO. Lots of ground to cover from pre-covid levelsLongby AstekChartsPublished 0
USO looking for $45With a break of the trend line and confirmation of that break today (Friday Feb 5) we will look for the next level at $45 a share. With pricing in oil going higher and more demand appearing in the market by swimmaxPublished 660
USO Touching a trend line Breakthrough or PullbackWe are now touching a long term (march 2020) trend line that gives us an upside to this trade. As oil continues to climb above 55 we see this staying in support. But be careful of a pullback to 33 to retest to the 50 MA Longby swimmaxPublished 0
USO - The Breakout No One Is WatchingWith the Saudis taking the initiative to cut their oil supply into the market for the months of February and March, there has been consolidation all of January with a slight breakout which has kinda been under the radar. Longby TTMTradesPublished 0
Cup and HandleThe investment seeks the daily changes in percentage terms of its shares’ per share NAV to reflect the daily changes in percentage terms of the spot price of light, sweet crude oil delivered to Cushing, Oklahoma, as measured by the daily changes in the price of a specified short-term futures contract on light, sweet crude oil called the “Benchmark Oil Futures Contract,” plus interest earned on USO’s collateral holdings, less USO’s expenses. USO invests primarily in futures contracts for light, sweet crude oil, other types of crude oil, diesel-heating oil, gasoline, natural gas, and other petroleum-based fuels. Benchmark: WTI Light Sweet Crude Oil PR USD If you are afraid of oil, not a good one for you. Not a recommendationLongby lauraleaPublished 3
Bearish Nenstar to send USO down.I will post the targets for bearish nenstar soon. It looks to have completed with excellent fit (ratio wise). Shortby frodo75Published 112
Adam and Eve Bottom reversal patternIf the price can break above resistance it will be confirmed.Longby mgreenfieldPublished 0
USO - GET READY TO RIDE ON THE UPTRENDUSO, one of O&G sector ETF, has built its wave 1-2 base. Based on the chart, the ETF is ready to ride on its wave 3 uptrend movements. The price target is to hit around USD$48 - a resistance level which occur back in April 3rd 2020. Happy trading, and Let's Trae With Passion!Longby AmazeOptionsPublished 115
USO Bearish Trade Setup The 4 hour chart on USO is showing a quality bearish trade with heavy resistance into 30-31. Is this (X) wave complete for a move back into 22-224 level? On the Minor time frame, look to execute bearish positions for USO expiring Jan 2021. Trade execution details in video update. Shortby wallstreetsharksPublished 0
USO Breaking DownUSO looking like it wants to go lower from here. Besides making lower lows, RSI and implied volatility are trending in opposite directions, with vol wanting to go up and RSI looking for new lows. With ES/BR showing that the s&p500 is going to outpace oil and XLE looking like garbage over the last few weeks I am thinking some more pain coming to commodities - specially with the DXY ripping. Previous USOIL idea: Shortby cmergedPublished 112
USOLost the 20 week ma after the trend breakdown. Not a good look for oil imo.Shortby EssendyPublished 554
USO: Weekly Call Spread 10 AugUSO signaling consolidation on the MACD. RSI remains flat, in the mid to upper 50’s, for the past couple trading days. Price action using the 9SMA as resistance and nothing foreseen this week to cause a spike. Sold a 5DTE 31/32 Call Spread for a quick weekly trade. As always, looking 50% profit to close trade. AMEX:USOby H3-PublicationsPublished 0
USO choppy Don't like the look of USO. Still think its in a running flat correction but possibility its some kind of ending or leading diagonal.Short00:34by cryptowavemanPublished 113
USO Long entry testNice squeeze. Breakout candle. Yellow to green. Lets see if this works out. SEP18 $30 Strike Call contract currently valued at $1.57Longby dgnsrektUpdated 2
USO - finally some movementBeen awhile since USO has done much. Think it has started toward bottom in wave C.Short00:35by cryptowavemanPublished 7
Which Way Does Oil Want To Breakout, Down or Up?Since collapse we have had a good recovery with a very strong impulse and the 3 day continues to shoot green. Now we are zoomed in on 12 hour timeframe. After the strong impulse, price action has started to range into something similar to an ascending wedge creating a test at the recent top with a tight price consolidation. These are the perfect kinds of moves you want to play. What we will look for next is to play a breakout either way out of the current compression point. Big volume should attack on the breakout. $30 high / $29 low. Currently in mid range. Let it lead into a transition on the daily candle to shift the indicators. Good luck. by UnknownUnicorn2319099Published 8825