Big #OIL Long opportunity $USO

We have finally struck the Year Camarilla S4 target. I believe now is the time to get back in long oil to the Year S3 near 55.00 or the 200 DMA, whichever comes first.

Comment:

Oil completely violated seasonality because of this virus and being a slave to the markets and demand expectations. The previous bottom that was near FEB was spot on with the seasonal bottom. We may get a week long rally into the OPEC+ meeting where the next relative top is "supposed" to be.

Trade closed manually:

Year S4 long netted about a 1.00 return, but then stopped out break even the same day on Wednesday oil numbers.