USO
4/11/16
Staging a bit of a rally. I still like it for a swing trade.
4/6/16
Up two days in a row off good oil news. Closed at 9.60 and would expect it to move up from here.
3/18/16 On Target
Going sideways, Looks healthy.
4/11/16
Staging a bit of a rally. I still like it for a swing trade.
4/6/16
Up two days in a row off good oil news. Closed at 9.60 and would expect it to move up from here.
3/18/16 Daily
3/18/16 On Target
Going sideways, Looks healthy.
3/17/16 On Target
Closed at 10.55 today. Looking great. No change in plans.
3/17/16 Daily
3/16/16 Weekly
3/16/16 Daily
3/16/16
I'm going out on a limb and betting that the oil industry is officially rebounding after a two year decline. I'm playing USO because it is one of the most liquid ETFs and has dropped from a high of $39.54 over two years ago to a low of 7.67 on 2/11/16. It closed today at $10.18
You can see a decent facsimile of a reverse head and shoulders pattern as well as forming a nice base around 10 bucks. It also has put in a couple higher highs and higher lows. I took an entry around $10 for a swing trade and will stick with it until it either pulls away from the eight day to the upside in a big way or breaks or dips below $9.60
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