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United States Oil Fund

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USO trade ideas

USO LongUSO technicals showed a triangular consolidation which lead to positive continuation on the daily chart which is resulting in a continued reversal on the weekly chart from the previous downtrend. Trump helped oil by withdrawing from the Iran deal so this catalyst coupled with the technical charting should provide a fairly strong up trend. USO broke out of the triangle upwards, revisited the average, and is now pushing upward in a strong manner leading to a close outside the daily band resulting in increased volatility.
AMEX:USOLong
by thePirateKing
Throwback failed on USODescribe the trade. What you see? There will be a sell off in the USO what suggest the technical patterns and two supportd at 12.45 and bent, the problem could be only a contango. Write why you want to enter the trade in this point? it is ideal point befor two support levels What have I done well for this trade? I set well stop level and at the time think correctly What can I take away to help with later trades? I should more emphasise the importance of support and resistance level and more try to se more perspective also fibo etc.
AMEX:USOShort
by matjaz70
One of My Old PlaysWell, the cat is out of the bag....I am a renewable fuels guy and I know oil like no tomorrow. Turn Around season is starting and refineries are stack up...inventories blew up this week as the tell tale sign of more to come for at least 4 weeks...Hence, short oil for the seasonal short....always happens!!!! I entered this AM and I am already up 50%...whew Might as well share the wealth. Dollar is stronger too and wham again!...Good for at least 4 weeks of easy money... Look for retracement to .618 and sell. could go to 9.20 ish but hey I am not greedy. I love volatility
AMEX:USOShort
by ramonbenavides12
LT USOILGap down indicative of exhaustive price action at the end of a mature bear leg. Sellers were clearly in control of the market. Base / unwinding late 2015 to now , leads to the first close above the 100 EMA since Jul 2014 (3.5 years)- this is very bullish. Couple this with a weakening dollar, and commodities gaining strength across the board and I think we have a decent long term trade. Play is a bit unique (1) trading w/ ETF (2) trading options against that ETF. This could be a killer idea for 2018 and will likely take a minimum of 2-3 months to get moving before folks start to pile in. This ETF is also lagging the underlying asset it tracks, which I feel is also bullish. In-flows to ETF's by novice traders are at record highs (out of mutual funds).
AMEX:USOLong
by FOREXunlimited