Crude oil making another push against resistance
USO (largest crude oil ETF) has been in a wide trading range for the past 2 months between 71 and 79.
It's failed at all previous breakout attempts, but the more it tries and the longer this range carries on, the more likely the breakout becomes. No trade yet, but we're watching this zone to see if we can finally get some price expansion and volume on a move over 79.
It's failed at all previous breakout attempts, but the more it tries and the longer this range carries on, the more likely the breakout becomes. No trade yet, but we're watching this zone to see if we can finally get some price expansion and volume on a move over 79.
Evan Medeiros
Founder, Trade Risk
---
Website: thetraderisk.com
Twitter: twitter.com/evanmedeiros
Latest Analysis: thetraderisk.com/smw
Free Newsletter: thetraderisk.com/trading-newsletter
Founder, Trade Risk
---
Website: thetraderisk.com
Twitter: twitter.com/evanmedeiros
Latest Analysis: thetraderisk.com/smw
Free Newsletter: thetraderisk.com/trading-newsletter
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.
Evan Medeiros
Founder, Trade Risk
---
Website: thetraderisk.com
Twitter: twitter.com/evanmedeiros
Latest Analysis: thetraderisk.com/smw
Free Newsletter: thetraderisk.com/trading-newsletter
Founder, Trade Risk
---
Website: thetraderisk.com
Twitter: twitter.com/evanmedeiros
Latest Analysis: thetraderisk.com/smw
Free Newsletter: thetraderisk.com/trading-newsletter
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.