tsep2
Long

Oil to follow suit with an oversold bounce

AMEX:USO   UNITED STATES OIL FUND LP UNITS
Given oils correlation to SPY (as shown in the overlay) as well as recently being oversold on the hourly, 4 hour, and daily timeframes it seems the oil bulls will follow SPY and other equity bulls in putting global growth concerns to the side for now and focus on looking to the upside with a potential rate cut and Mexico tariff delays also helping overall sentiment. If USO can break 11.19 the higher low will be set and an uptrend can be reestablished.
Great setup following you now! About to post a trade aswell, have a look on my profile and let me know about it buddy :)
+1 Reply
tsep2 DACapitalTrading
@DACapitalTrading, Thank you! Will definitely check out your ideas!
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@tsep2, Thank you bro. great chart.
+1 Reply
tsep2 ShastryAnanth
@ShastryAnanth, Thanks man appreciate it!
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ShastryAnanth DACapitalTrading
@DACapitalTrading, You post a lot on currencies which is annoying in trading view as there is no way to segregate the stock ideas. Not sure how to filter the stock specific ideas. Please advice.
Reply
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