We see a touch of the 76.23 handle for USOIL and it will be a tough line to cross. Oil hasn't seen these levels in a long time and I don't think the pump is actually catching up to the true price yet. There are still major supply issues and restarts of US refineries after the latest hurricane. We are still looking at some upside though a pullback to 70 is also in the cards.
Note
Broken resistance, waiting for today's close to make an decision on this trade. Still holding long
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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.