AMEX:USO   UNITED STATES OIL FUND
19 0 0
Impulsive bounce from 8.97/8.87 would be a warning to shorts. Strong break below 8.87 points to 8.53/.25 or lower. USO has had some extremely extended 3rd waves over the past few years, so catching this knife (looking long) is ill-advised. Long traders need to see a 1-2 bounce set-up off support in order to establish both a probable potential trade target as well as an invalidation stop below start of presumed wave 1.

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nick.holland78
USO - 1h
nick.holland78 PRO about USO 10 months ago
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