KAS109

USO - Long on Oil

Long
KAS109 Updated   
AMEX:USO   United States Oil Fund
I went long on this I think Thurs or Friday. Higher highs and higher lows, nice basing pattern with breakout above triangle. My stop is @ $11.14 (about 10% plus is below swing low). Below $12.03, I would view as negative if it drops back into it's consolidation zone.

XOM looking nice today too.
I normally avoid ETFs as a general rule, but this ETF fit the pattern.
Trade active:
Moving stop to 10 day low $12.03
Trade active:
Stop to $12.49. Below 20 EMA.
Trade active:
Stop to $12.94
Trade closed: stop reached:
Trailing stop hit @ 13.26 this morning breaching the 20.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.