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 the 50 dma (yellow line).  

Leave a Reply

Your email address will not be published. Required fields are marked *