CRInvestor

USO 15m Analysis - rally target window hit and exceeded

BATS:USO   UNITED STATES OIL FUND
850 0 7
The anticipated consolidation of yesterday's late session surge was indeed both swift and violent. Price gaped lower, probed below yesterday's value highs, then reversed violently higher. Action far too violent for my small account's risk threshold. As a result, I ended up just watching today. As we head into the Labour Day weekend it seems the markets are trying to end the summer session on an up beat note. The 2 hour OTE             Long Sweet Spot ($37.00) has indeed proven to be a significant pivot . Price has now exceeded upside 'dead-cat-bounce' criteria and the fact that the rally was greater then 66% leads me to believe there may be more bullish action to come. The depth of what ever pull back we see over the coming session or two ought to at least start to build a potentially bullish scenario going forward. Indeed, it may take at least that as momentum currently is in 'fail' mode after a significant bullish reversal.
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
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 Support Priority Support Report Issue Ideas Published Followers Following Private Messages Chat Sign Out