I Think USO Will Go Down, So Naturally I'm Buying USO CallsWho really needs OIL anymore? We have the sweat and tears of the new investors trying to figure out this market, right? Wrong!
Donald J Trump, chicken nugget of the United States of America, is running out of baby batter. A glowing tan is important for president, if not, how can be young and nimble? Answer: CANT.
Ok let's predent do some technical analysis: Fibonacci.
Now that we did that let's get serious. Dodo will buy oil from oil place while it's still inside the comfortable cradles of the oil mine, ok? We do that to save the workers cuz if you buy that oil and say, hey bro, ima buy such cheap oils from you rn but you dont have to mined it yet, then you dont has to put that oil in a tanker or nothing just leave it there bro and we will take it in a few years when it's, idk, maybe 50 bux or something (lol jk but really tho).
You ask, coinholio, my gentle tard, does this mean that economy will be save? Answer: no. Oil companies will get boughten the oil because jaret kushner will read this post and think its good idea (so meta, but that's ok, he won't read the whole thing he's kinda got ADHD and at this point he is already jacking it on henta hevaen). Basically they will boughted all this oil and then oil company will be all, well, they boughted all this oil, but do we really wanna pay these guys all these moni for nothing when they aren't doing no work? So they make fired and pass cost up to tax payeds and people say "oh well they did their best".
OK so but what about contigo and all that stuff. There's no time for coffee right now. The USO will just change the rules and say hey you know what, we don't like the rules so lets do something else. See, no more contigo issues. Drink tea and marmalade.
Basically I applied to MAC DONALDS as a second job now because I boughten over ONE THOUSAND dollar of these calls options. I don't really think that oil will go to that high, to be TBH with you, but the important part is that some one just a bit smarter than me will think it will, and then we can sell these option to thems people (again, im glad jaret doesn't read too much).
Thank you for watching my video, please like and subscribe. Online peoples approval very important stuff, especially in these trying times. Remember that wen ppls say to do something, do the opposite. Except for wen I do it, then do it, because I want you to do the opposite it is REVERSE PSYCHOLOGY. The only way to win is to do double reverse psychologyies. Remember I already boughted these so in order to get moni you need to buy now!
USO $5 5/15 100
USO trade ideas
Honey, is it time for the Jetski and Convertible again? AMEX:USO
Looking at the Weekly chart, USO is oversold on RSI . Sell off VOLUME is enormous and appears to be slowing. We're also sandwiched in between the weekly ($4.30) and monthly supports ($3.70). From these regions, I am looking for a bounce up in the near future to retest resistance (highlighted) in blue, especially if we're getting close to a rescinded "lockdown" order. I anticipate oil demand to rise sharply with immediate "recreation" travel demand, i.e. Road Trips, Jetski's, ATV's, Cruises, etc. Let's be honest, who in their right mind will remain at home one sec longer after having spent a month + in isolation? Time will tell with this one. Good luck!
NOTE: NOT TRADING OR INVESTMENT ADVICE> ENTERTAINMENT ONLY!
USO further updateBought the dip. Considering how bad the conditions have been with oil, I bought the dip and do believe this is in line with the 2014 Q4 crash in Oil. It will eventually come back and waiting for a good demand to rise once the lockdown eases out and most of the industries are up and running and 50% of the people that are working from home or at home start to work. The demand shall rise back up.
$USO ... (NEUTRAL TO BULLISH)Team,
Here is our tracking of oil through USO . It looks like we might be getting a capitulation move down here, but it's still a little too early to say. (This is a monthly chart) With that said, we started buying some today (very small position so far) for long term hold (Dec 2022).
As always ...
***Let's talk about it...***
Incoming Reversal! Technical Analysis of USO - United States OilFirst, we look at the 1 week chart and establish there's an overall bearish trend. This is indicated by the downwards purple trend lines. Then we zoom in to the daily chart for more details and establish a level of support, indicated by the horizontal purple line. We also determine the short-term bearish signs and determine there's a loss of momentum. This new bearish trend support/resistance are indicated by the green lines.
What we'll be looking for on Monday is to break out above the long-term bearish purple line. Look to place a trade around end-of-day Monday based on current position above or below that line.
For me, the loss of momentum and the recent activity with oil in the news (Russia/Saudi deal) I'm going to lean towards a bearish trade. AMEX:USO
Don't Chase Oil ETF's - They've Already Rolled OverWith oil crashing, curious equity traders are searching for a bargain, and what better way than buying the USO etf? Well, practically anything. The USO etf is based on June futures contracts, which are still hovering around $22. Hint: things are going to get VERY ugly. USO
Oil supply exceeding demand creates opportunity.Oil has taken a massive hit over the last few years.
As industry is pushed towards more energy efficient solutions, oil has been steadily produced in the background. The supply/demand mismatch initially creates burden on the producers, who have to store excess oil and deal with price volatility. Now, in a world nearly shutdown from COVID-19, demand for oil is at an astonishing low.
However, the USA, Russia, and Saudi Arabia have all agreed to decrease oil production over the next few months. This decrease in output should help with the oversupply. As the world slowly regenerates from COVID-19, oil demand and use will increase. We should naturally see an attempt return to mean.
In the short term, here is a falling wedge that appears to be printing. You can see bullish divergence on RSI and stochastic bottomed out. I will long the breakout and place shorts inside green box.