Eboard10
Long

Oil Ready to Propel Higher

AMEX:USO   UNITED STATES OIL FUND
The USO has likely completed the current corrective move and is ready to resume the bullish uptrend as part of an extended larger degree wave (3).

While there is the possibility that the correction extends to target the 61.8% retracement of wave 1 around 10.74, the minimum number of sub-waves to complete wave 2 has been reached. Moreover, extended wave 3s tend to be very bullish and wave 2s often only retrace to the 50% or even the 38.2% supports before resuming the uptrend.

The ensuing move would see the USO rise upwards of 13 in the next couple of months, making for a nice medium-term gain as well as higher gas prices at the pump.
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out