CRInvestor

USO 15m analysis - trending lower but getting a bit over done

BATS:USO   UNITED STATES OIL FUND
74 0 0
The must anticipated OTE             long sweet spot (103.65) was hit today amid the EIA             and FOMC events. A new 15m bull momentum divergence has put a bit of a floor in the market. The 'stop to trail' level was hit on the 15m 'bot' short (short from 37.40 and when price traded to 37.07, stops should have been changed to 'trailing' by no more than 15 ticks) so it is currently flat. I for one shall be watching for a healthy bounce in price from current levels before considering any new short ideas.
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