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InvestingScope

USO: Well supported on the long term.

Long
United States Oil Fund (AMEX:USO)  
InvestingScope  
AMEX:USO   United States Oil Fund
Trend Analysis Chart Patterns Technical Indicators USO unitedstatesoilfund exchangetradedfunds ETF investing investments Oil Commodities Energy Commodities
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trendanalysis chartpattern indicator uso unitedstatesoilfund exchangetradedfunds etf investing investments oil commodities energy
The United States Oil Fund has most likely completed its technical pull back on the 1W scale and has resumed the bullish bias (RSI = 57.828, MACD = 0.080, Highs/Lows = 0.2614). Being well supported by all the underlying trend lines, this is probably an early buy signal towards the 16.25 1W Resistance. We are long on USO with TP = 15.00.







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