Forest bathing can improve mental or physical health, as spending time in nature can reduce stress and pain and boost positive mood. The United States Oil Fund should take this to heart and set out for the lush composite consisting of the turquoise zone between $52.24 and $43.83 and the green zone between $46.36 and $40.29. Therefore, it should drop below the...
The price has broken out of a long bearish channel (green color), and is now in a bullish channel (cyan color). Within the long bearish channel, we can see a downward seasonality in the second half, in the months of July and October. Will the cycle repeat itself in July or October of this year?
The United States Oil Fund® LP (USO) is an exchange-traded security whose shares may be purchased and sold on the NYSE Arca. USO’s investment objective is for the daily changes, in percentage terms, of its shares’ net asset value (NAV) to reflect the daily changes, in percentage terms, of the spot price of light sweet crude oil delivered to Cushing, Oklahoma, as...
USO continues to follow the purple downtrend I drew last week. The short term bull trend couldn't hold and today opened below the support levels (shown as 1st the horizonal purple line). I was able to get cheap $3.5 calls at market open, and could've taken a 75% profit but decided to chase more gains (bad move) and the market closed with my options up about 30%...
The United States Oil Fund has most likely completed its technical pull back on the 1W scale and has resumed the bullish bias (RSI = 57.828, MACD = 0.080, Highs/Lows = 0.2614). Being well supported by all the underlying trend lines, this is probably an early buy signal towards the 16.25 1W Resistance. We are long on USO with TP = 15.00. ** If you like our...