There is obviously more downside ahead now. First level to watch now will be 47,18, last low, and respected Fib level.
Long /cl 48.66.. adds at 48.4x. Stop just below that.
Buying crude again. 48.9x's. will add around 48.6 with a stop just below 48.4.
First touch of what was gained in March 2017. Will get a BIG pop before below 48.50. BIG LONG RIGHT HERE 49.04. (needs to gain 49.11 and it will POP HARD) Adding at 48.8x. Risking more than usual but it will work. 49.8x the first long target.
Just bought /CL 49.52. Stop below Fridays low. New highs the target. Will add to the long at .38/.41.
Hitting resistance right meow. Shorting here at 2354/2355.. Adding at 2366/2368. Stop at 2371. Looking for 50 point drop minimum by end of next week. Follow the move up from 2280s.
Oil is hitting support. risking about 30 ticks here. Looking for 49.9 and 51.30 on the pop. Apparently i need more coffee as i put the support line at 48.5 NOT 49.5. I am LONG here with stops at 49.26.
Looking for potential opportunity for USOIL. Completion of right shoulder may lead to ~52.30 before potentially rebounding.
Recently exited this USO trade for a 7% gain! To those of you still holding on, don't get greedy above $11. Short be short term resistance, fade candidate.
I think USO will keep going up for now. I suspected that it would reverse, as early as a week ago on Friday. USO
Price looks overextended to me- I think there will be strong selling either today or tomorrow. My target is the .618 fib from the March selloff.. there is a lot of support there and it would be a healthy place to consolidate before another leg higher.
I'm just updating my chart for AMEX:USO right now. I think there may be consolidation going into the API report on Tuesday afternoon then a continuation of the current trend upwards.
Looks like price action is pausing at the .5 fib extension from the selloff earlier this month.. I will continue to hold my calls, though.
Looking for an extension up to ~$11.00 by April options expiry on the 22nd.