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USO trade ideas

Timing & dowsing pick USO longI'm getting via my dowsing work to watch for a spike down and reversal up. I still have a target from a reading last week or so around $69-70 and tomorrow is a calendar date. Often these dates warn of a kind of reversal. I got 9.8 as a percentage up from current levels, but I'd be aware of where 9.8% up lands from whatever low is made just in case it's off. This all could potentially occur this week because I got the answer that the high is "for the week", but I wouldn't rely on this at all. Just noting it for journaling.
AMEX:USOLong
by JenRz
Finally time for bullish oil? $USO to $120 then $300+People have been calling for the oil bull market to begin for the past two years and the trade largely hasn't worked as we've gone sideways to down. However, based on the chart, it looks like we're finally ready for a run. This would also line up with my bearish equity thesis. Oil looks to have broken out of an inverse head and shoulders pattern and althought it's a diagonal pattern which are less reliable, the indicators that I have seem to support the narrative. I think there's a possibility that we could see a 4x move over the next year or so. Let's see how it plays out.
AMEX:USOLong
by benjihyam
10
Oil will fall signaling a recession and bonds will soar!Oil lost the monthly trendline, back-tested it twice now and is ready for the fall. 200ma is flat which means a decisive movement is coming. If oil falls, so will yields - signaling deflation which'll cause the FED to cut rates before the election. Check out my NASDAQ:TLT thread, I think you could buy OTM calls with that right now, or on AMEX:TMF for August-September and make a killing. If you're in oil, it wouldn't hurt to hedge right now. AFTER rates are cut, and the dollar starts going towards 97 THEN oil will blast-off with the second leg of inflation.. NOT FINANCIAL ADVICE!
AMEX:USOShort
by EmptyEternity
2
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
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 - Oil Prices are Rising LONGUSO follows the futures prices of oil barrels. On this 30 minute chart, price falls have been rejected by the POC line of the volume profile and the Lux Algo Donchian channel has transitioned from downgoing to trending up. The dual TF RSI of Chris Moody now shows RSI holding above 50 in both the 15 min and 60 min TFs. Net distribution has bottomed out and accumulation now exceeds distribution. I see this as an excellent entry to buy calls above the money at $70 or look into shares of USO / UCO/ GUSH ETFs or look at any of the oil sector stocks including well services which are typically small caps with great upside volatility with price action momentum. My favorite of those is BORR which currently is trending up and may have much of its move ahead. The ascending parallel channel of USO is perhaps a signal for the sector at large.
AMEX:USOLong
by AwesomeAvani
USO is in a sweet spot on its chart LONGUSO while the middle east, the Houthi rebels and the Suez Canal shipping quagmire affect oil liquidity globally and prices at the pump continue to be volatile the federal government seeks contracts to restore the national strategic reserves depleted in the last supply demand challenge while the presidential and congressional election cycle starts warming up. On the weekly chart, USO has just crossed over the long term anchored mean VWAP line as well as the POC line of the volume profile. This is a bullish momentum move. Price is situated in the middle of the high volume area showing expectations of decent trading volume and liquidity. I see this as an opportunity to take long trades in oil or anything oil related. CVX is on sale after a drop after the morning open. i will look at oilfield services stocks, big oil and oil futures.
AMEX:USOLong
by AwesomeAvani
1
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
USO Stock Chart Fibonacci Analysis 042924Trading Idea 1) Find a FIBO slingshot 2) Check FIBO 61.80% level 3) Entry Point > 82/61.80% Chart time frame : D A) 15 min(1W-3M) B) 1 hr(3M-6M) C) 4 hr(6M-1year) D) 1 day(1-3years) Stock progress : B A) Keep rising over 61.80% resistance B) 61.80% resistance C) Hit the bottom D) Hit the top Stocks rise as they rise from support and fall from resistance. Our goal is to find a low support point and enter. It can be referred to as buying at the pullback point. The pullback point can be found with a Fibonacci extension of 61.80%. This is a step to find entry level. 1) Find a triangle (Fibonacci Speed Fan Line) that connects the high (resistance) and low (support) points of the stock in progress, where it is continuously expressed as a Slingshot, 2) and create a Fibonacci extension level for the first rising wave from the start point of slingshot pattern. When the current price goes over 61.80% level , that can be a good entry point, especially if the SMA 100 and 200 curves are gathered together at 61.80%, it is a very good entry point. As a great help, tradingview provide these Fibonacci speed fan lines and extension levels with ease. So if you use the Fibonacci fan line, the extension level, and the SMA 100/200 curve well, you can find an entry point for the stock market. At least you have to enter at this low point to avoid trading failure, and if you are skilled at entering this low point, with fibonacci6180 technique, your reading skill to chart will be greatly improved. If you want to do day trading, please set the time frame to 5 minutes or 15 minutes, and you will see many of the low point of rising stocks. If want to prefer long term range trading, you can set the time frame to 1 hr or 1 day.
AMEX:USO
by fibonacci6180
US Oil trading planFirst of all before I follow the trend I check what kind of trend is this, soo that is gonna be easy for me to get into position, US Oil is a down trend market however a down trend market does goo up n down, soo there is a short buy to 91 n 105 coming weeks before another leg down, before you can analyze find trend always, investing n trading is going to be easy n give you power to hold negativity if you enter wrong entries, you gonna be knowing we're market is trending beside short movement,find a real trend n check previous years make sure you are following right trend📈📍
AMEX:USOShort
by mulaudzimpho