AMEX:USO   UNITED STATES OIL FUND
8 2 0
A 5-wave move below support is key, and I'd like to see 9.48 give way. Should this happen, then Support turns into Resistance. IF price moves over 10.80, then high 11s are possible for minute wave v (shown in white) for a presumed Leading Diagonal.

Related Ideas

This isn't looking like the weakness I'd expect in a 3rd wave down. IF USO can't break below 10.12 region stat, THEN the possibility if a bounce into the higher target box around 11.11 could cause me to rethink the larger picture. Stops on shorts are recommended, especially if you got too aggressive.
snapshot
Reply
I would note that the embedded technicals (I'm showing MACD and Stoch RSI, but others should be similar) on this 15m timeframe are traditional signatures of a 3rd wave; however, price needs to drop soon or momentum indicators will start curling back up...
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out