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United States Oil Fund

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USO trade ideas

Oil to follow suit with an oversold bounceGiven oils correlation to SPY (as shown in the overlay) as well as recently being oversold on the hourly, 4 hour, and daily timeframes it seems the oil bulls will follow SPY and other equity bulls in putting global growth concerns to the side for now and focus on looking to the upside with a potential rate cut and Mexico tariff delays also helping overall sentiment. If USO can break 11.19 the higher low will be set and an uptrend can be reestablished.
AMEX:USOLong
by tsep2
5
USO: Well supported on the long term.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 free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
AMEX:USOLong
by InvestingScope
$USO rising wedge on HTFNo financial advise, always DYO Home work. Naked charts, simple PA bearish bias on 3D: - Rising wedge forming - Volume dropping and price raising (no bueno) - Gapped candles within the wedge. You know the rules: gaps must be filled - Retesting important fractal (red box). Clean break through this fractal may invalidate current TA. - Major liquidity pool below Lower Low ($7.67) - I don't follow news, strictly PA. So major news releases may also invalidate current TA.
AMEX:USOShort
by LEVERXYZ
3
monthly expected move in 15 min intervals. oil and the path aheanotable things CBs are begging for price inflation gloablly. opec is being supportive. things look healthy supply demand wise in oil.we're about to enter into driving season. 1 thing that i've been turning back and forth on is how similar the setup in venezuala reminds me of the iran-contra affair. not necessarily right now, but slowly developing into. venezuala if many dont know has strategic resources necessary for US refinery dominance globally. we're gonna do what it takes to assure those resources are maintained. we shall see how this plays out. input data: monthly open: 11.95 current IV: 26.92 DTE: 30 Iv percentile 11% 1 standard +- .75 standard +- (not listed) ($11.26 lower bound, $12.64 upper bound) .5 standard +- .25 standard +-
AMEX:USO
by The_dumpster_diver
WTI:CAD- dovish tilt supports oil there's a high correlation between canadian dollar and oil. although data was moderate that came out about inventories. the moving/defining part of todays trade is the dovish tilt from BOC. the loonie fell supporting oil prices. oil is on the ropes and refinery utilization is very much to be focused on along with inventory numbers as we prep for driving season. i expect the sideways range to continue until mid april when the driving season comes back into play
AMEX:USO
by The_dumpster_diver
USO Inverse H&SInverse H&S Pattern complete on USO, I believe this will be catalyst for rising oil prices, of course their are many more. 1. Falling DXY- The US dollar has just started a downtrend that I believe will be a trend for not just months, but years. Fed Chair Jerome Powell just put interest rates on hold until further notice. On top of that, the unwinding of bonds off the balance sheet just got takin off auto pilot. C'mon Powell, If the economy was really humming like you said It is why would we end the tapering process? It won't be long before rates go to 0% and we begin the QE process. It's 2008 all over again, this economy is at the end of the business cycle, a huge catalyst for commodities like Oil, Silver, and Gold. 2. Sanctions- Late last year President Trump imposed sanction on Iranian oil, while prices did fall let's not forget about these sanctions. Now the US just recently imposed sanctions on Venezuela. 3. War- The reason I put this one last is because of the Presidents withdrawal from Syria. But I do have It on here because of troop deployment to Venezuela, the Middle East, and of course China (Territory Battle). Anything could happen in the world, so we will see. Good luck trading everyone! -Not Investment advice.
AMEX:USOLong
by koubadillon