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USO

USO Oil ShortUSO on the 60 minute chart is currently in a broadening wedge and reflecting down off a reversal at the upper resistance trend line. The MACD lines have crossed over the histogram and are trending down showing moving average convergence. Price is between the mean and first upper band lines and moving down toward the former. Current factors at play include an OPEC+ meeting, Russia working around sanctions, increased demand of the summer driving season, federal rate action projections as well as those in Europe and the ongoing conflicts in the Middle East. I will short USO here targeting 74 at the bottom of the wedge pattern.
AMEX:USOShort
by AwesomeAvani
Could price reverse from here?USO/USD is rising towards a resistance level which is an overlap resistance that lines up with the 78.6% Fibonacci retracement and could potentially reverse from this level to our take profit. Entry: 78.92 Why we like it: There is an overlap resistance level which lines up with the 78.6% Fibonacci retracement. Stop loss: 80.80 Why we like it: There is a pullback resistance level. Take profit: 76.59 Why we like it: There is an overlap support level which is slightly above the 38.2% Fibonacci retracement. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
VANTAGE:USOUSDShort
by VantageMarkets
Opening (IRA): USO July 19th 67 Monied Covered Call... for a 65.60 debit. Comments: Selling the -75 call against shares to emulate the delta metrics of a 25 delta short put, but with built-in short call defense and to take advantage of slightly elevated IV on the call side relative to the put. Would like 30-day IV to be higher here, but can't have everything (it's at 31.2%). Metrics: Buying Power Effect/Break Even: 65.60 Max Profit: 1.40 ($140) ROC at Max: 2.13%/16.90% annualized ROC at 50% Max: 1.07%/8.45% annualized Will generally look to take profit at 50% max ... .
AMEX:USOLong
by NaughtyPines
USO / UCO a play on barrel oil shock LONGUCO is shown here as a one month trend - It is sitting on the rising support tendline about 2% below the recent high. Oil prices contribute to inflation. Anyone in the USA is aware of gasoline prices at the pump. Geopolitics plays into price. At present, US Navy warships are consuming refined oil and heading to the Middle East. Iran and Russia are sanctioned and must sell oil on the global market ( primarily India and China ) at artificially low prices. If Iran retaliates against Isreal, its oil infrastructure will be bombed back into the Stone Age in less than a day or two by the US. Global oil prices will spike nearly instantly from spot oil to futures. US Domestic producers will benefit ; the insane net cash flow to them will dramatically increase quickly. Russia will sell more oil to make up for Iran being taken off supply but will not capitalize so much given the sanctions. The price of oil will likely go north of $100 USD / barrel and potentially higher. Iran could go nuclear and any residual oil infrastructure would be turned into a quagmire of scrap metal in another day of work for the US Navy bombers and the fighter jets that escort them into strategic missions. Defense contractor stocks will spike as well. This could be a black swan event. My trading dictates that I add to my positions and average in until price goes against my idea. I am increasing my positions in gold and silver along with ETFs inversing the indices banks and financial stocks until the dust is settled. This includes any plays on VIX. I will also look at individual domestic oil stocks as well as junior precious metal miners.
AMEX:USOLong
by AwesomeAvani
5
Black Gold Judgment Says Huge Challenge Is Just One Step AheadGlobal shares rose while the dollar retreated on Wednesday, after a hot reading of U.S. wholesale inflation set a nervous tone for trading before a consumer price report that could prove decisive about when the Federal Reserve cuts interest rates. The frenzy in so-called meme stocks entered a third day, with shares in AMC and GameStop soaring by more than 25% at one point in premarket trading before retracing some of those gains. Price action was more subdued as investors were reluctant to push any market too aggressively one way or another ahead of the monthly U.S. consumer price index later in the day. The boom has drawn parallels with the meme-stock craze that gripped markets in early 2021, where retail traders, using trading platforms and social media investment advice pumped up the value of stocks that many large investors had bet heavily against. Technical graph for Brent crude oil says, right here is a similar challenge like in 2021.
TVC:UKOIL
by PandorraResearch
USOUSD Spot Oil Jumps on Geopolitical Escalation LONGSpot Oil on 30-minute chart had a slow rise in the past 24 hours followed by a pause and then a jump on the Israeli retaliation strikes into Iran. Middle East oil shipping in the Red Sea and Persian Gulf are at risk and shipping insurance for ongoing shipments is likely to experience heavy rate increases if shipping does occur. Houthi rebels may resume proxy attacks on the behalf of Iran. New sanctions contemplated against Iran may include increased action on oil exports and the Israelis could target oil infrastructure. Overall, spot oil now has a bullish bias. I see good cause to increase oil based positions at this time. My target for spot oil based on VWAP lines currently on the chart is 87.5 about 4% upside without leveraging. The volume indicator shows increased buying volumes relative to selling. The PVT shows a quick burst of trend momentum while the TTM indictor triggered and has an upgoing histogram.
EIGHTCAP:USOUSDLong
by AwesomeAvani