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USO
Ideas

UNITED STATES OIL FUND LP

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USO trade ideas

USO Rising Wedge Keep your eye on USO 1D MACD indicates either direction can occur in the short term. Energy sector has potential to pump in June. RSI also has room to run higher. If there is consolidation it should find support on the WHITE support line $50 appears to be in play but PT is the BLUE upper trend line. Rising wedges are bearish once broken, USO still appears to have more to go.

by peterbhc

Updated

Staying long USO Daily says pull back coming still nice higher lows higher highs This will take off be patient Weekly looks great stoch heading up making higher lows Long at 43.30 supprt 43.84 Resistance 45.02

Long

by john12

USO Long Update Staying long @ 43.30 Daily chart green arrow Daily chart higher lows higher highs daily over bought, so can drop But look to the left Feb see how that stoch stayed at top and stock went higher. That another thought Weekly telling me stay long with a trailing stop Weekly has higher lows. Support 44 Resistance 45.29

Long

by john12

USO: Pump up the Jam! ⛽⛽⛽Guys, fill up your tanks before the upcoming run, as we expect the USO to rise in the long run! However, in our primary scenario, we should see a correction down to around $35.41, given that the price is not breaking out above $44.64. This breakout has a high probability of 40%. So, it remains exciting to see whether the USO is taking the long road or is trying to take a shortcut. What shall we look at next?

Long

by MarketIntel

USO Staying long weekly stock look great higher lows As stuff opens up they gonna need oil airlines trucks etc. long 43.30 trailing it

Long

by john12

Went long USO Stoch on bottom 15 min support 42.81 a little early not lots shares and have trailing stop Weekly looks great higher lows stoch turned up more we open up more we need oil watch airlines also they gonna need oil how about cruise lines watch oil take off

Long

by john12

Oil..I am still long...A bit of backwarsation in CL1 and CL2 and some market too'ing and fro'ing but where growth is, there's demand for energy. US dollar still short so there is a purchasing power element here.

Long

by Adam-Cox

$USO Triangle Coming to a Head as Oil Correct Bull Trend USO is narrowing in an unusually tight consolidation in a normally highly volatile market. Something has to give. Oil is pinched between supply constriction and concerns about demand. But the trend remains to the upside. Watch for a shakeout to bust support followed by a trailing bid oppty.

by GregFolin

USO EW Count USO EW Count, no trading advise!

by Gold-Esel

USO incoming 47.5 40 dollar well supported at 50ema and double bottom formation. Trend continuation. Next resistance level is 48 and then 50. Price bounces off the 50 ema too in the weekly chart. Bullish setup

Long

by HX_Fund

Updated

USO..not the best oil trade but I stay long!I am still long oil with around 125% return on my position. The oil WTI futures Backwardated previously; now Contango indicating a normal growth market. I expect additional returns on a growth path. No hyper inflation. The "Green new deal' not affecting exports and world demand as economies re-open. I wil get into higher beta trades with oil's pick-up but keep Keep an eye on OPEC but with a short dollar I expect upward pressure.

Long

by Adam-Cox

$USO Dips as Oil Coils Up into OPEC USO is pulling back, with key confluence support potentially in play in the $39 area as the oil market braces for a major OPEC+ decision later this week.

by GregFolin

Oil fueling the way to summer With Oil (gas prices) on the rise and the recent winter storms in Texas slowing production, a long with announcements that demand for oil is increasing; USO turned green on on the last hour of trading. Entered a 41/40 PCS for 0.23 3 DTE below the daily low. AMEX:USO

Long

by H3-Publications

Higher Oil Prices are on the Horizon The bottom is in on oil and with the US cutting back supply we have a macro economic scenario where can actually see oil rise to levels we haven't seen in 15 years.

by NotReallyJack

Holding between $38 and $45 We are comfortable holding long term USO between $38 and $45 based on current global environment and trading structure. There is a long term trend line that sweeps through at $38 that heads to $39 slowly, very slowly which is easier to take advantage of. Still targeting $45 on the long term that is a safe place to take a position off this trade but continue the uptrend

Long

by swimmax

USO - very bullish on oil Anyone with a brain knows where we are heading.. Take a lesson from Texas. Long here for USO and Oil and gas in general. Especially with a Biden admin. Opposites attract... Good luck!

Long

by Verum0

USO SHORT?Snow in Texas means oil rigs are frozen. Oil business are taking a hit. On top of the electric car boom!

by Username014638

Commodity super cycle started...Long $USO. Lots of ground to cover from pre-covid levels

Long

by AstekCharts

USO looking for $45 With a break of the trend line and confirmation of that break today (Friday Feb 5) we will look for the next level at $45 a share. With pricing in oil going higher and more demand appearing in the market

by swimmax

USO Touching a trend line Breakthrough or Pullback We are now touching a long term (march 2020) trend line that gives us an upside to this trade. As oil continues to climb above 55 we see this staying in support. But be careful of a pullback to 33 to retest to the 50 MA

Long

by swimmax

USO - The Breakout No One Is Watching With the Saudis taking the initiative to cut their oil supply into the market for the months of February and March, there has been consolidation all of January with a slight breakout which has kinda been under the radar.

Long

by TTMTrades

Cup and Handle The investment seeks the daily changes in percentage terms of its shares’ per share NAV to reflect the daily changes in percentage terms of the spot price of light, sweet crude oil delivered to Cushing, Oklahoma, as measured by the daily changes in the price of a specified short-term futures contract on light, sweet crude oil called the “Benchmark Oil Futures Contract,” plus interest earned on USO’s collateral holdings, less USO’s expenses. USO invests primarily in futures contracts for light, sweet crude oil, other types of crude oil, diesel-heating oil, gasoline, natural gas, and other petroleum-based fuels. Benchmark: WTI Light Sweet Crude Oil PR USD If you are afraid of oil, not a good one for you. Not a recommendation

Long

by lauralea

Possible long Possible long

Long

by ClearWaterTrading

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