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United States Oil Fund

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USO trade ideas

USO needs to bounce today or tomorrow or drop will be strongUSO was in a huge bullish pattern falling wedge. It break out of it several days ago but it simply can't move up further. If it drops inside the pattern it will be a dead hook or fake breakout and could be very bearish and fast. Volume on the drop confirmed price action which could be bearish for oil. RSI is dropping but is still in a neutral area. MOCD drop below the zero line and does not show sign of moving up. Overall: OIL need to bounce today and break again from the trend line otherwise could be seen a nasty and strong drop. After its breakout the first time it found resistance at a high from December 2022 and wasn't able to move above it which is bearish for sure. It could find support on the blue trend line, but that support won't be for a longer time. Because of that it s got a sell signal which will be removed only if the price moved out of the falling wedge asap.
AMEX:USOShort
by Consistent_Trades
Head & Shoulders Top Completed, USO/SPXAccording to TA rules, the ratio has completed the pattern with a Complex Right Shoulder (two peaks). Those these means that the SP:SPX should breakout from that downward trendline? I don't know, but probably. Or those it means that energy stocks should finally follow oil prices? Maybe, it is what normally had happend. What I'm seeing is more stocks going up, even though some breakouts aren't working as smooth as it should. Nontheless, I just follow price. This ratio is just another indicator, let's wait and see what happens.
AMEX:USO
by dpuleo19
2
USO to 89 in timemultiple harmonic patterns inside of each other that provide the structure for upside indicators bullish with room to run momentum clearly shifting here on oil democrats getting voted out next week liquidity grab from yesterdays biden announcement (you panic sell - they fill their orders and fill them cheap ) trendline breakouts etc add on pullbacks t1 2.4 reward/risk 83 / stop at 69 t2 3.75 reward/risk 89 / stop at 69 tracking recent trades 1-0 / +1.6% / SPY will update this post when i exit this position
AMEX:USOLong
by longstrokelarry
Short 10 year - Long Oil Another interesting one - oil breaking the correlation with 10YR , trade bets on the convergence of the spread but offers as well protection against geo political turmoil (oil up , 10 year a safe heaven) and exposure to a market pivot thesis as the long term narrative should adjust faster than the short term (oil). Inflation narratives that can be perceived a risk for long term growth can further open the spread which is the risk to this trade. Correlated with a long equity position -
AMEX:USO
by georgedikos
1
Is #USO Breaking Out?Is #USO Breaking Out? # Crude #oil extended last weeks Friday’s positive close in trading on Monday as U.S. President Joe Biden’s visit to Saudi Arabia failed to deliver anything concrete. The trip was aimed at coaxing the Saudi’s to increase oil production thus easing inflation pressures. The response from the Saudi’s and other key officials reiterated the fact that production scheduling and/or increases remain with the OPEC+ consortium leaving President Biden without a deal. Sorry #JoeBiden
AMEX:USOLong
by fintechwire
USO Strong buy. Long call 200 optionsIf I were still trading, which I am not. I would invest in long 200 call options on USO. I am considering opening an options account and investing in long call options with a strike of 200. I would use the price of the long call as my maximum lose tolerance level. Meaning, If my max risk per trade was $150, I would buy (long) a 200 strike price that would only cost me $150; if I am wrong, I lose my max risk tolerance of $150. If I am right, I get exponential profit potential. Stop putting all of your money into buying and holding. Select entry points, max risk tolerance and strategic entry intervals. Long USO seems great right now. If I am wrong, which can and will happen, the max risk will be automatically handled in a long option position. Learn option trading and stop giving greedy assholes your money. Check out the Cash in/Cash out Report a free open source indicator on Tradingview.com. Here is the indicator If you have question on how to use and setup the indicator, please let me know. If the indicator gets 1,000 likes I will turn it into a free iOS and Android app. Let me know if it saves or makes you money!!
AMEX:USOLong
by Johnny_Nickles