USO Setup To Bounce Higher

USO Setup To Bounce Higher

The United States Oil Fund etf (USO) found good support at the 200 day moving average (red line) reinforced by several bullish candles and now sits at minor resistance  at $40.  A push above that would lead us to initiate a Bucket 2 trade with target near...
Oil Looks Ready To Break Higher

Oil Looks Ready To Break Higher

After consolidating for several weeks now, Oil is up and rising again…and this time could try to break higher and above resistance. Looking at the oil futures (light sweet) contract itself, resistance is at $107.  While volume leaves someting left to be...

Morning Update, SPX, Metals & More

  An early selloff led to a classic intraday double-bottom and ended up with a rally.  On the S&P500 daily charts we now have the 50 dma and the critical $1300 right here and looking at the overnight futures (up 0.75% right now) we might open above...