How to profit from Oil crises - USOI wouldn't think about opening any longs until this scenario happens.
Breakthrough of unfilled gap and then retest.
this one is simple
USO trade ideas
ESO Day ChartThe end of oil ?
Does the US Military have
Hyper Technology ?
a) No; No.
b) No; Yes.
B) Ye;, Yes.
Enough said.
USO Breakdown pattern following up on our shorts on USO, look to book profits as USO drops below 2.5 , our downside target
$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
BUY WHEN other are dumb lol thanks for paniclol speculator thinks oil will go to zero, seems like stupidity is contagious
bear trap elow support
buy and forget it
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.
OPTION " CALL USO IN 3.8 FOR 1 YEAR " LONG TERM TRADE 1- historical oil prices good to enter
2- trump will not accept that he will try to fix it
3-Falling Wedge with big volume
4- historical trend line
Be patient :)
Oil Prices Are Crashing. Bloodbath Coming If Indices Follow?If the indices collapse too, beware of the extended 5th!
When is the right time to get into USO?Futures have dropped to new lows, and we're starting to get severely oversold with oil. USO has been accumulating nicely with lower lows and the RSI showing divergence towards the upside.
We have June CALLS before this week, but will be adding more longer term CALLS slowly over time.
We know that suppliers are trying to make deals about the supply, the demand will come once travel is allowed once again. When that news hits, especially for US, this will pop.
USO USOIL Possible BottomPossible double bottom with a falling wedge for confluence. Stops below the low. Enter again above the low if you get stopped out.
Not much more to say about this.
Phenomenal long opportunity in USO?If you are an experienced professional trader, this one might interest you... Green box: 3.40-2.96. Green algo target at 3.31. If we make an extended 5, we may reach 1.92. In the meantime, watch that $17 support in the WTI. Again, for professionals only :grinning:
Falling Wedge on USOif we hold this low, we will probably get a revisit to the top of the wedge and then possible movement towards a breakout of the wedge... if this bottom trendline holds I am strongly long here
Possible USO recoveryUSO has taken a huge hit after the Russia and OPEC+ debacle. Since then, countries are making an effort to cut production to bring back oil.
Since then, the RSI has been diverging towards the upside and we are now in a squeeze with upward momentum. We have been buying accumulating CALLS for June. $4, $5, and $6 strikes.
$USO Cup & Handle - Nearing Breakout (Short Term Trade)$USO Cup & Handle - Nearing Breakout (Short Term Trade)
4/17 Expiration Calls dirt cheap right now.
$4.00 strike going for $0.33 - essentially baking in little to no movement by end of day tomorrow
SUPPORT we've been waiting for? BULLISHDouble bottom and strong support at 4.22. Bounce incoming? I expect a test back up to $5 soon.
