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Fehro, here is my analysis of USO. It is very sophisticated.fehro wrote:...may see a good move in oil.. it's coiling in a triangle of sorts
SPY at multi-day high, IWM not even near the hod...Al_Dente wrote:Narrow based Bull, volume is flowing into the mega-caps
“A rising tide lifts all boats”Daniel wrote:SPY at multi-day high, IWM not even near the hod...Al_Dente wrote:Narrow based Bull, volume is flowing into the mega-caps
the KISS method.. inbetween 20d/50d go long short on the break of either.. looking a tad bullish up to the 50d.. then maybe a 200d on a close above the 50dDaniel wrote:Fehro, here is my analysis of USO. It is very sophisticated.fehro wrote:...may see a good move in oil.. it's coiling in a triangle of sorts
Its 5day sma is 14.62, and it currently trades at 14.64; hence it is a buy.
Next stop, 8day ema at 14.67.
One could get brain fever like a character in a Dostoyevsky novel if they over-analyze this market. However, if you are right, then USO/CL will have to knock out these simple MA resistance points first...