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United States Oil Fund

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USO trade ideas

$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
USO Trade Setup - Long Term Bullish PredictionUSO - Bullish Long Term Prediction With the oil fund bouncing off the weekly bottom trendline support at 9.17, and a green candle over candle formation and RSI issuance of a buy signal on the oversold bounce, a break over the 8ma at 10.60 and a previous candlestick resistance break over 11.09, price action could start to move towards major moving average bull crosses at the 100ma 11.94, 200ma 12.47, 50ma 13.29, and perhaps even a run to top trendline resistance around the upper $16's.
AMEX:USOLong
by Round_Table_Trade_Team_LLC
After an Epic Fall, Oil is Testing Major Rising Support! (USO)Hi friends! Welcome to this quick update analysis on the US oil market, via the USO ETF! Let's get right to it! Looking at the daily chart, you can see that price has bounced on my rising blue trendline support, but we're now returning to it for another test. If at any point, the rising blue trendline fails to hold, price will likely fall to the next downside support level at 8.65. Now, the oil market is heavily oversold, but that doesn't mean that it can't remain in oversold territory, as prices move further to the downside. A bounce off of the rising blue trendline should send us up to 10.70 for a resistance test. Happy Holidays Everyone! I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic! Au revoir. ***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.*** -JD-
AMEX:USO
by MagicPoopCannon
6
24% Gone Since My November 11th Warning on Oil! (USO)Hi friends! Welcome to this update analysis on the US oil market, via the USO ETF! Let's get right to it! Looking at the daily USO chart, you can see that the USO has been plummeting, since I warned about a potential fall to $10.70 on November 11th. The oil market has been in absolute freefall. You can see that it printed a bear flag (in black) right on top of my $10.70 target, and price has just melted straight through it. However, the USO is about to test major downside support. You can see that there is a rising trendline support level (blue dashes) that is produced from two major lows in the oil market. The first low is the absolute low from early 2016, followed by another major low in mid 2017, and now we are just about to test this rising trendline for a third time today. Since the market is extremely oversold, there is a decent possibility that we could see a bounce, or at least a pause on that level. However, if price smashes straight through it, we could be in for more severe selling. Just below the rising blue dashed trendline, is a price level that is generated from the pivot low of 2017, at 8.65. So, if the blue trendline is lost, 8.65 would be the next stop. However, if the blue trendline is held, we will probably get a bounce back up to 10.70, to test the former support as new resistance. On the MACD, you can see that the recent low in momentum corresponded exactly with the low printed when the bear market bottomed out in 2016. Momentum has since made a brief bounce, but is poised to cross over again to the downside. Regardless, price is closing in on the rising blue dashed trendline support. So, we will have to watch how the market reacts to it, to know what will happen going forward. Also for the record, a breakout above the 10.70 level would put a test of the 50 EMA (in orange) on the radar. Happy Holidays Everyone! I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic! Au revoir. ***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.*** -JD-
AMEX:USO
by MagicPoopCannon
5