USO $52 Support By August
Updated
Oil will continue to rise in price. As such, USO will rise as well. On 7/9/21 USO was able to close above the short term downtrend. Right now this is signalling a breakout for anything above $51 next week. Volatility will probably increase, but given the current trend, RSI and MACD, there should be a steady gain over the coming weeks as we near August.
Note
Breakout confirmed. To the moon we go
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.